The BEST method is not only to drain when warm, but also tilt the car slightly so that the outlet really is the lowest point, and (something the pros never do) leave for several hours to drip. You'll be surprised how much old oil has stuck to the innards of the engine.
Use the old oil not only for fences, but garden stakes, painting on the underside of subframes (cars and lawn mowers) and other potential rusty bits like springs. I use it in my chainsaw (lubrication, not as 2stroke oil) and (the better quality used Audi oil) for my lawnmower engine.
Here's a tip for gardeners with mole incursions (you won't find this in the gardening mags). Carefully remove the molehill and find the hole. Pour in 500mls of old engine oil. Exit moles!
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