I have used Ricks method and the big advantage to this is the ability to apply a mask to the new layer.....hence you can selectively sharpen parts of your image!
I have been experimenting with sharpening in LAB on the lightness channel and that also gives good results.
One very important point I have learnt lately is to always sharpen at the output resolution. Resize the image first to the size you need.....and then sharpen. Ie.....if you have been working on an image straight out of your camera and you want to use this for the web at say 800pixels......then resize it down to 800 before doing your sharpening! Same with layout for print......workout the end size and then sharpen at that size.
This means that it probably is best to do all your post processing on an image and then leave it unsharpened. You may require the file for different uses.....print..web etc....a copy of the file should then be prepared for each specific use and sharpened accordingly.