I prefer the crab method as well, but I have to disagree a bit with some of you saying that you should lower the wing when straightening out. It is not completely wrong, but you should use enough opposite aileron to level the wing, and THEN if you start to drift you should lower the wing into wind. I agree that in strong x-wind conditions you probably always have to add that extra correction...
A reason why I don't like the wing low in for example a c-172, is that on many 172's there is only one static port on the left hand side. And the wing low is a slip condition, and in a slip you will have over -or under reading IAS with only one static port, and over read of the IAS is not something you wan't on final if not aware of it.