I think what I liked most about this method is you don't have to babysit it like you do when you cook bacon on the stove. I just put it in the oven for about 30 minutes and checked on it now and then--you don't even need to flip the bacon. This was nice since I was busy making the french toast and grilled pineapple.
Line a jelly-roll pan with aluminum foil to make cleanup easier. Set a wire rack on the pan so the bacon doesn't sit in fat. Place bacon slices in a single layer on the rack and bake at 400 degrees for about 25 minutes (depending on bacon thickness and how crisp you like it). You can even put the bacon in while the oven preheats--the gradual temperature increase will render the fat more slowly and won't shrink the meat as much.