i tried this method and another one mentioned here (Green Dragon Recipes (Marijuana Drink)), i also tried a conventional vodka tincture (waited 4 weeks long). neither did work for me. first of all, they didn't get me high a bit. one dropper, five droppers, one shot glass... but not getting high wasn't the problem. the horrible aftertaste however was... they all tasted like i am poisoning myself (no pun intended), it burns your mouth and stomach, makes you nauseous... and the taste lasts 8 painful hours. horrible... and the droppers, pots, pans etc. makes you feel like you are doing "drugs".
so, within the last month, i wasted ~1 oz high grade weed.

my advice would be, smoke the thing, don't play with it.