Hi Sal,
Actually, I don't go to all the extra trouble. Subclips in PP are so limited with their hard in/out points that, as much as I would love to, I never use them at all. 
You're workflow reduces 5 steps to 3, yes, but it still doesn't allow you to send subclips to different Bins without changing the focus back and forth between the Source Monitor and the Project window each time you want to select another Bin. And 3 steps is still 3x more work than 1 step. Repeated hundreds of time, it adds up to a very big productivity hit!
FCPX's method in this regard is brilliant since it allows editors to use just the keyboard (with zero mousing around) to: jump to the next clip, set in/out points, send clip selection to appropriate 'Bin', repeat. It's a super fast, brilliant workflow that has to be experienced to be fully appreciated. Unfortunately, that's where FCPX's brilliance ends IMO. 
I'm sure Adobe could attract a ton of documentary film-makers by adding this feature to PP, since half the work with documentary editing is properly organizing clips and partial clips for easy access while editing.