I'd use your approach too boeingairbus1981 but to be honest the questions in the actual exam are normally easier to work.
I prepared in a similar way to Phil. I also made sure I brushed up on my hour fractions (ie. 5 mins is 1/12, 3 mins is 1/20, 8 mins is 4/15 etc.) which helped me go that bit faster.
Can't wait for Stage 3. Really looking forward to it but not sure what to expect. Will be trawling back through these pages once I have a date booked!!!