Surfinsparky - Pulling an insulated wire won't solve the problem were local code requires BX, MC or conduit; they want the GEC to have the same physical protection.
A friend of mine who doesn't do much work in NYC got red tagged on 200A residential service upgrade for using an insulated #4 for the GEC. BS, I know. Does it all the time outside NYC and never had a problem, always passed, but in NYC the GEC had to be in raceway (conduit) and of course, bonded at both ends.
Roger - You're absolutely correct on the "choke" effect of poor or non-existent bonding of a metal raceway for the GEC. Excellent point.
Joe