The easiest way by far is teh eps. save. It's just a regular save as .eps. And if you're using quark or any layout program, eps is the format of choice.
I hold an Adobe certification in Photoshop and have been using it as my primary function in my job for 7 years. And in countless classes and workshops, I've never learned another way. I've always used clipping paths or eps. So if there are other options, I'd like to know them too.

If you go to Adobe.com, Luckies, there is a photoshop forum that I swear I use at least once a day. There is no better place to get an answer- and fast!