Track changes made easy

I use track changes occasionally in grading and in my editing business. I used to hate it but I've figured out the easy way to do track changes so that students can see what's going on without all those stupid annoying tiny bubbles. All I do is make occasional editing changes (especially for punctuation) and then type comments directly in the paper.

I have it set up so that there's a red margin mark on the left to show where I made changes/comments. I use red for comments and make it bold so when students print papers, the bold shows up as my feedback even if they don't use a color printer. If I have a color-blind student, he can let me know and I'll use just bold, no color.

I do NOT use comment bubbles; those clutter up the paper and are both annoying and distracting. Feedback needs to be clear and clean without all the distracting bubbles (you can't read that tiny text anyway so students never bother with what's in those bubbles).

How do you use track changes?