Pretty nice, but I actually do really like having gemsets. It gets me as close to the production environment as possible, plus it makes it really easy to clean up unused gems when I'm done with a project.
:~ which bi
bi: aliased to bundle install --path vendor/bundle
---
BUNDLE_PATH: vendor/bundle
In that way, you need only run the standard "bundle" or "bundle install" instead of setting up an alias.