Well its better than the way i used to do it, but i use a saucepan and fill with about 1"-1.5" of water, boil then return to a simmer. Place in the egg from directly over the water (not a high drop in), cook for 3 minutes and voila! Never had a hard yolk since! Of course this method replies on fresh eggs, if the white runs a lot then the egg is not as fresh as it should be!
i used to use a poaching pan with the little cups but having it just in boiling water seems to make them taste better!
Hope that makes sense