Phiggs,
I do it as coordinated turns but don't forget they are very small turns. Typically, you're correcting with small heading deviations about a mean offset, so talking about a coordinated turn might be a bit academic - but that's what I'm aiming for.
Incidentally, the 'crab + last minute wing down and straight with rudder' is referred to in Australia as the 'combination' method but I don't know if that's the terminology used elsewhere.
As i mentioned I'm in no way alarmed by the wing down method but just wanted to give a vote to the crab at the VLA/LSA end of the scale. I might say that while I've never found the timescales to make the requisite small crab adjustments an issue in any aircraft, the bug smasher is a delightfully responsive aircraft and demands/rewards good technique. Probably not a great IFR platform, of course.