FAQ from food festival visitors: How to cook great steak?

While working for www.yourperfectnightin.co.uk on their stand at this summer's Shrewsbury Food Festival and Shrewsbury Flower Show, a recurring question from knowledgeable visitors was "what's the best way to cook steak?" Here is my personal view and method:
1) Buy great steak. Sirloin or ribeye. Predominantly forage-fed. From proper butcher or farm shop.
2) Let steak warm up to room temperature for an hour or two before cooking.
3) Dry the steaks with kitchen roll, coat both sides in small amount vegetable oil (NOT olive...burns too easily; corn or rapeseed or sunflower all OK).
4) Season one side generously with salt and ground black pepper.
5) Get heavy frying pan or griddle VERY hot, without oil. Keep it very hot until end of step 7.
6) Place steak, seasoned side down, onto hot surface. Start 3-minute timer. DON'T move steak around pan. Do apply gentle downward pressure on fat spots/strips for good contact with intense heat.
7) Season uncooked side, then turn. Start 1-minute timer. DON'T move steak around pan. Do apply gentle downward pressure on fat spots/strips for good contact with intense heat.
8) Take steaks off heat and wrap all together in cooking foil, shiny side inwards, then place on warm plate and cover with two tea towels to keep warm. Start 10-minute timer.
9) Refill wine glass. Fuss with chips or new spuds, veg or salad, table setting, etc. DON'T get impatient. Put plates to warm, put everything except steaks on dining table for help-yourself service, then call your guest(s) to the table (unless they're there already from starters).
10) When timer goes off, unwrap steaks taking care not to lose/spill the meat juices. Move steaks to clean cutting board, then drain meat juices into a warm bowl.
11) Cut steaks on a 45-degree angle from vertical into strips 1.0 to 1.5cm wide. Arrange artistically on a large warm plate or metal platter.
12) Take platter and meat juices to table and bask in warm applause.
13) Ask guests to help themselves, allowing self-selection of rare or medium pieces according to personal preference. Assertive chairmanship by host/cook helps make sure everyone gets their preference.
14) If anyone asks for some pieces to be cooked a bit more, throw them out of the house and never speak to them again...ever.
15) Enjoy.
16) PS (i) With 8oz steaks, the timings above should produce rare to medium-rare sirloin and medium ribeye. Because of ribeye'e delicious fat content, it is best cooked medium - any less and you risk uncooked fat on your plate. (ii) Please DON'T bother with a sauce. If you've got step 1 right, it won't be necessary. Let great steak speak for itself, naked. (iii) With generous provision of spuds and veg/salad, three 8oz steaks will feed four people easily.
Disclaimer: This is my method and there may be others, just as good or possibly better. Your improvement tips are most welcome.