I did the 'put in oil and bleed' way once. Then i did the syringe + tube on nipple and push oil trough thing. I never did the first method again. If u have a proper syringe and tube to push the fluid trough the job is done in merely a few minutes. As for the old method that can take up to 20 minutes....
Gonna do the brake and clutch fluid soon, the old brake fluid looks like applejuice now and my brakes feel like a sponge.