I let the players roll 4d6 use the best 3. Then I get them to work out what their stats would have been using the point buy method. If the rolled stats added to under 38pts they can add pts to bring their character up to this level. I thought of using the heroic method but didn't like the ease with which one character could roll disgustingly good stats while another could as easily roll something completely average.
That is what I like about it! Give me a chance to roll up a Conan or a god and I will risk a completely average character as opposed to settling for something almost guaranteed to be just slightly above average. The chance for greatness is one of the thrills of character generation!
If a player wanted to use a point-buy or some more usual method, I would let them, but so far all my players have the hearts of gamblers and the blood of barbarians running in their veins - they won't settle for mediocre if they have a shot at something disgustingly good!
I use a modified heroic system. Each player rolls 1d10 + 8 twelve times. First six rolls are "set 1" and the rest are "set 2". The player chooses one set of rolls and that's it. My players gain levels slowly, so at least I let them be powerful from the beginning.