Do a search for Moses and Zimmerit and you'll find pictures of the KTII he did. Looks just terrific. He did it with the Tamiya tools and polyester putty.
I've always used the screwdriver method but when I saw how nice Moses results were I just had to give it a try.
I just made a tool to do a 1/16 Tiger and used the polyester putty. I really like this stuff. It has a nice setup time. It gives you enough time to do minor tooling after doing the main areas which is great. It sets up nice and hard but you can chip away at it if you want. Thats what I'm gonna try and do.
Its just my personal opinion but I think the screwdriver method looks more authentic on a Tiger I. But the tooled zimmerit looks authentic on a KTII. I'll have to finish my Tiger I that I tooled the zimmerit on to see the results and then judge.