Quote Originally Posted by Hai-Etlik View Post
My preferred method is to use inverse of the image as a layer mask.
OMG that's genius!!! So simple and it never occurred to me and I've never seen it suggested anywhere in 9 years of using photoshop! Then all you need to do is merge the masked image with a transparent layer below to 'commit' the transparency.

I'm going to beat you with my rep stick till you die, Hai-Etlik!!!