What I found greatest about the Japanese method of learning multiplication was actually the method for learning single-digit products. The Japanese use a system called "kuku" (translated, "9 by 9") which involves memorizing a rhythmic chant that goes through the entire multiplication table, with each product being concisely expressed in a few syllables. This is made possible by the various ways in which a number can be pronounced in Japanese.
I think the method is made necessary because to say the full products takes a lot of syllables in Japanese (e.g. 7x7=49 would be "nana kakeru nana wa yonjyuu-kyuu"). So perhaps it doesn't differ too much from the way you learn multiplication tables at an English-speaking school, but a cool method nonetheless.
Video here: http://www.youtube.com/watch?v=1hLyzXM53IE