yes it will, thats why the step to side is needed. you first draw the coin into your direction to make it move at whatever speed you want, then you make the step to the side and only then the "ciruclar/elliptic" movement begins.
pulling something towards you does not have to make it move towards you.
comatose, the essential point to understand the physics of the pulling is Newton good old" F=m*a" ; Force=mass*acceleration. The part about the mass is already well explained in the books so i think that should be clear.
SO whats acceleration? Its the "change of the velocity" per time.
Now imagine the coin flying straight to a point 3 meters beside you at a speed and trajectory "V(old)". If you now start pulling, the Force--> acceleration will change the coin speed and/or trajectory, but only the change "c" is directed along the direction of the force(towards the lurcher), the resulting velocity is "V(new)= V(old)+c" , which is not directed at the lurcher.
to Rhuan: gravitation isnt really a problem, it only means that the coins have to rotate a little bit below the heights to which its pulled, so that the Force isnt 100% horizontal. If youre good at it you could even use the gravitation to control the vertical component of v.
Im pretty sure by now that this way to use the pulling ist physically possible. If it would be possible (in terms of skill) for the MB/Lurchers is another question, though the longer i think about it the more i think it should be doable with some training.
One last thing, if you have the time to spin it around you for long enough to speed it up to the maximum, the lurcher shots should be much faster the ones from the coinshots.