Here's what I do - right or wrong it works for me:
Deploy the "airbrakes" (both ailerons up 5 degrees) on the downwind leg. About 2 - 3 clicks of throttle and keep the nose down. Turn base leg while keeping the nose down. Turn to final - start to level out a bit, as I near the landing zone I start to raise the nose - this bleeds off any excess speed. This is where it gets tricky. Like Jason said you don't want to get into a near stalled condition by flying with the nose high and slowing down too much. What I do at this point is add a little power and drag the plane in an almost level to slightly nose high condition. More throttle will maintain altitude, less will cause descent. I don't do much with the elevator at this point, it's mostly the throttle that I'm using to control my descent. I only add more up elevator when I'm ready to land (flare). Works for me. With the ailerons up, unless you come in way too fast it's pretty unlikely that you'll bounce on a landing. Don't let things get too slow or you'll be sorry. Practice until you're comfortable with all of this and you can see how to stretch out what would be an undershot approach. That's your goal. You don't want to come in super hot - just keep enough speed to make sure you're not going to actually stall until the flare. Use the throttle to hit your mark. Like I said it works for me. Maybe it will work for you. If not, then practice until you find what works for you.

John Pavlick
Team Black Magic, Tech-Aero Designs