Dave, I think you hit the bleeding process dead on. Something else I've been doing is squeezing/pumping the lower hose rapidly with the screw cracked open, car running. Occaisionally I squeeze/pump the upper hose as well. It seems to help speed up the bleeding process on my car. If I'm starting with a fresh fill I also turn the heat controls wide open (I think Ryan mentioned that in his other post). Hope this helps too.
JR
1992 525 IA, EAT chip, 16 x 7.5 Rondell 58's, BavAuto Springs, Bilstein Sports, Elipsoid Smileys & fogs, Z3 Pistol grip shifter, 4 VDO gauge package, Azure Blue w/nice patina - clearcoat shot