While nothing is like a chunk or slice of bread still warm from the oven, this is more than good enough and often not distinguishable from the bread as received. One note is that this is pretty high-density bread, so it might not work as well with 'fluffier' breads. In any case, the double bagging does work for me to eliminate that ucky freezer burn taste, or at least put it off so that it takes 2+months in the freezer for it to appear.
I've also found for cakes and pastries that wrapping in cling wrap, then aluminum foil tightly sealed by rolling the edges together, then a freezer bag works well for many months.
(I like both, they aren't the same thing)
The method I was taught was to wrap the slice of bread in a paper towel and microwave for 5-10 seconds.