Great post Zeev.. Funny the reaction I get from friends/family when I mention I am short the likes of say IBM, MSFT etc etc..
To me this is the TRUE way to short.. Plan it out, take the hit if it runs against you, and only play the snorters with carefull allocation and daily raids..
I think for the folks who only play the long side? Understanding how to short and the money management skills that need to be learned should be essential to ones training. I know my long returns have increased dramatically over the years as I sharped my shorting skills..