I think
FFF is on the right track
here.
I always ask (or state myself) whether people are going to use the 'wing down' or 'crab' technique if we are going to experience a serious x-wind component, as it saves me a short period of uncertainty as we approach the runway.
I have to say that 99% of those who 'crab' are, in fact, using the 'very late wing down' method, much as
FFF has described. I also agree that the perfect 'crab' landing involves achieving alignment of the centreline of the aircraft with that of the runway, at the moment of touchdown (the process having started shortly before). After touchdown the wings are level, being kept that way by an appropriate amount of into-wind aileron.
I have to say (and this is personal to us all) that I prefer the 'wing down' approach as it is stable and you don't have to guess where the main gear (or nose gear, depending on how you fly) is going to end up. Also, showing my yellow streak, if you are running out of control at 200' with the wing down, you get a chance to throw it all away earlier than when you start drifting onto the grass at ten feet...