I don't have any experience with the old school method (aside from bike tires), but I have mounted/balanced countless tires on professional shop equipment. I do like Hunter's RoadForce balancer. While it can be a pain to use, it actually simulates the weight of the car on a drum and checks for roundness issues in the tire, and will instruct you to remount the tire until it gets it in right.
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View my fuel log 2014 Mirage DE 1.2 manual: 49.2 mpg (US) ... 20.9 km/L ... 4.8 L/100 km ... 59.1 mpg (Imp)