Ah yes, that's what I usually use. I was just intrigued because you said 'the' method, as if it had been some secretive style of editing.
On the subject of Photoshop techniques, how do you guys usually create your renders? I can Magic Wand Tool the approximate shape, but always end up spending a good fifteen minutes or more (depending on the size of the render I need) refining the edges or even figuring out whether the edge is part of the render or is just a similar background colour or GIF deformation of colour data. Do you also do it this way, or do you have a faster, maybe more efficient way of making renders?