I use the method the knitty article tells about sometimes but other things too and didn't learn that method until I had been knitting a long time. I enjoy doing that one but don't know that it is really any better than the older ones I know. It can effect the front of the fabric slightly, mostly just because it is double there and tends to show, and if you pull things to tightly it can dimple things up.
I often thread a needle with the yarn. One with a somewhat sharp point works nicely but a dull one will do. On the back side of St st I skim the needle through the purl bumps going only through part of the yarn strand. I usually work diagonally for about 1 1/2", stretch the back out a bit so that the yarn is relaxed (if that makes any sense) and cut it off. I often leave a quarter inch of yarn sticking out, especially if it is wool because I figure it will felt down after a while. You don't have to leave any though, you can cut it off flush with the fabric.
If the back is the knit side or on ribbing I often run the needle through one side of a row of knit stitch legs, again skimming through the yarn. Finish up the same way as on the Rev St st side.
Nothing will show on the front side when you just divide the stitches with the needle. It works very well.