Another exceptional article by Bruce Fraser. However, I find an alternative workflow preferable for me. I actually do a full set of edits on a separate 8 bit file of the image with adjustment layers and masks and retain it as a master 8 bit file for future use. Then, when I am satisfied with my edits, I transfer them to a copy of the original 16 bit scan using the techniques Bruce describes. That file is then converted to 8 bit, ressed up and sharpened for output on a large format Epson. I keep all three files: the original 16 bit scan, the edited and sharpened 8 bit version for output, and the 8 bit version with the adj. layers and masks.

From the moment I picked up "Real World Photoshop 5" I knew that these guys were good. After reading it cover to cover, I find myself still going back to it for reference.
This article just continues the trend. I have come to expect excellence from Bruce and he rarely disappoints; this article being no exception.
Often it's just the little things that you have missed or overlooked: like using the Command+Option keys together with M or L to bring in the last used curve or level settings. I would usually save the 8 bit adjustment settings and then load them into the curve or level dialog when in the high bit image. Another little time saver...
And of course, how many people have their own custom color space named after them.