Is this the ideal way or does it really depend mostly on the situation
or amount/type of machines?
Ideal is relative to what type of environment you have. That being said, the way you described is a viable, efficient method if you do it right. Here is my opinion on MDT vs WDS as you've referenced them both.
MDT is better suited for larger enterprises and WDS is better suited for smaller businesses. I've used both methods (MDT & WDS), and they both serve a great purpose. WDS does work in tandem with MDT as you mentioned in your question too as it helps with the network/PXE boot portion of MDT.
The scenario you described in your question would be more geared towards the smaller environment I mentioned earlier in that you created your image and installed apps and drivers then sysprep'd it and took that image to use to blast down to your computers through WDS. MDT takes this portion and makes it much easier, and much more efficient through the task sequences it uses. You spend a lot of time upfront (way more than WDS) setting up all of your models and their driver packages (CABs from the vendors' (Dell, HP, etc.) websites), network settings, naming conventions, etc., etc., but in the end there is a lot less fussing with it and it is very scalable once you've got it to your liking. WDS uses set images as you already know and can put driver packages in these images, but there is a lot of tweaking when you get new models of computers that you have to do to keep WDS running. With MDT you edit the task sequence that you've already created and throw a new item in with the new driver CAB once a new model of computer comes out and it's quite a bit easier; having done all the hard work up front of course.
MDT also excels in the area of targeting. What I mean by this, is that you can have a thin image with no drivers or any applications installed, launch an MDT deployment that runs a task sequence that you've setup to detect which type of computer you're running, find which model it is, then get specific driver packs and application packages and install them. All this is accomplished using WMI queries that query certain attributes of the computers you'll be imaging. This really helps in shops/companies where there isn't a standard model of computer.
Here is a great guide for setting up MDT, and here is a great link to video tutorials and guides for actually USING it. Please feel free to contact me regarding any other specific questions you might have.