It is a very comfortable procedure once you are accustomed to it. The official procedures are in Supplements 8 and 9, you pays yer money and chooses...
The steep approach angle is maintained with collective; about 6 degrees nose up bleeds the speed progressively from 400 feet/45kts to 100 feet/35kts at LDP. Now you are committed to land and are watching groundspeed; as the speed continues to fall you maintain the glideslope with a touch more collective to that "point in space" about 30 feet vertically above the circle, at which point all groundspeed should cease. As you are stopping, hopefully over the right spot, lower the nose and let her fall vertically. Do NOT hover there. The fall will be gentle, I assure you! LEAVE the collective alone.
As she falls onto the ground cushion you will feel her slowing; a very slight squeeze on the collective will arrest the fall and allow you to anchor the left wheel before she starts to dance on you...
Before you attempt this manoevre you must have a very clear mental picture of what you're trying to do... get it right and it'll result in an easy single engined approach and landing. Get it wrong and it could be very messy. How you get to that 30 foot position is a matter of personal opinion; some people use blobs on the screen, some align the pitots etc etc. I prefer the mental picture of the point in space.
Nick may be horrified by this, but it does work. Any other ideas anybody?