I like to use as long an extension as possible. In addition I like to use to a ratchet spinner unless space prohibits. I almost never use a socket directly on the ratchet. So I can hold the extension with one hand to prevent the socket from turning backward or I can use the spinner to spin the bolt/nut off the rest of the way - with or without the ratchet.
This is what my father taught me. He was an aircraft mechanic from before the war into the 70s at the Phila. Navy yard, and during the war on reconnaissance planes in England and France. He taught me never to use a ratchet and socket without an extension. One problem was crawling into tight spaces like wings where there wasn't much room for movement and could not carry multiple tools with you into those spaces. The extension allowed you to palm the ratchet head and turn the extension with your fingers either way as needed, and to separate them if you needed the extension as a nut runner. I like knurled extensions for this, but a judicious application of friction tape does the job too. The extension also helped you to visually see if you had the tool straight onto the fastener. I've followed his instructions to this day.
Another advantage to this approach is when you encounter 'stuck' spot while spinning the fastener out (especially with old, rusty/dirty threads)--the ratchet is right there in the palm to turn it through.
The ratchets I've used with the least back-drag (without any modifications) were the older style low tooth count like a pear-head having two separate pawls that kind of form a letter-V configuration. These, of course, would have commonly been the kind my father used back in the day. I have a 1/2" from the 1950s that will turn by just about breathing on it. It's a real brute too. Plenty of these are still reasonably available on the used market like eBay with the added bonus of having been made in the USA by classic tool mfrs.
As others have said, having a ratchet mechanism properly cleaned and lubed is a big help.
I never liked the thumbwheel ratchets. There's something awkward to me about using them. I think it has to do with where you have to place your grip and bend your fingers to turn them unobstructed with one hand. I find palming the head and turning the extension with my fingers to be a much more natural-feeling approach (my short fingers could play a role in this!).
Although I've never owned one, the modern swivel-head ratchets appear to solve some of these problems, as long as you have the room to swing them out. I'm long past my wrenching days to go out and buy one. But I get the sense that the old head-palming while finger-turning the extension would still give you more control and precision.
Anyway, those are my thoughts on the issue.