I have tried several methods, but I settled on the Newberry OCW method and have never looked back. I can't say it's the best, but his explanation makes sense, and I've seen it reduce the amount of rounds I put through my rifle to find a optimal load. I had a custom rifle built off of a Stiller Predator action (Remington clone) with a Hart stainless steel barrel (26 in.) in 338 Win Mag. for an elk / CPX3 rifle. The builder did his own load development, and came up with a load using Nosler brass and 225 gr Barnes TTSX (o.338) that were 0.5 MOA rounds from the rifle. He sent 20 rds of handloads for my rifle, along with the recipe. Of course, myself being a tinkerer and not leaving well enough alone, decided to start from scratch and work-up my own loads using the Newberry OCW method (as it was new to me then) just cause......... When it was all said and done, I came up with essentially the same powder, charge, seating depth, etc. as his load. Since then, I've used it pretty much exclusively, and have been happy with the results for my hunting loads. For benchrest competitions, varmint shooting, or other high precision work, this may not be the most ideal way.. I don't know.
Certainly I'm no expert, and don't claim to be. I'm sure there are other hunters and shooters with infinitely more reloading experience than myself. I'm also not saying that the other methods are wrong, but for me, I like this. Takes a lot of the guess work out of trying to find "nodes", etc with other methods. Of course with any method, you have to be careful, work-up slowly, and "listen to your rifle" when it's trying to tell you you're pushing it too hard. That's my disclaimer in the whole thing.....
Anyway, if you, or anyone wants to read about it, you can go here:
http://optimalchargeweight.embarqspace.com
This is a video of a guy on YouTube going through the process.....
Also, there is a nice Excel spread sheet that allows you to plug in values for whatever cartridge load you're working on, and it pre-fills the charge ladder. it gives a good explanation of the method as well. Unfortunately, I can't upload the Excel file here for some reason, but if you search for Dan Newberry OCW Workup Calculator, you should be able to find it. It's an XLS file.
Have fun, but be safe