That method has actually been assimilated into this one. It is now "Step Three" of a much longer process.
For most people, just mapping the external sdcard onto the /sdcard directory will be a vast improvement. The main reason is that many apps still use the /sdcard directory as storage space. For instance, I have all my PDF documents stored in the content director of ezPDF Reader, and they add up to almost 2GB worth of data. If I were using the original setup, I would have already basically filled up my /sdcard directory. Also, I'm not entirely sure, but I think the eDGe library application stores information in the same space.
The problem is that you still can't move applications to the sdcard. For some reason, the Entourage folk never got around to getting apps2sd to work. If you're the kind of person that likes to install lots of apps, this method will allow you to move them over to the sdcard, just like you were using a typical 2.2+ build.