Bulletproof concotion? I don't know about that. We use different strategies depending on the situation. But, I don't know if there is any better strategy.
The simplest, and what seems to work the best, is similar to what you describe. Enough midazolam to make them sleepy, enough fentanyl to make them comfortable, a lot of cetacaine in the oropharynx, and even more talking to them before you start to ensure that they know what they're going to go through.
Precedex is great, but is expensive and takes at least 30 minutes to get them to the right "state" of pre-induction. Still, use it when warranted. Overall, though, I've found that it doesn't add much extra that's helpful (having done enough with/without it to be a decent judge). As one of my attendings recently said, "It's a long run for a short slide."
Rarely do we do superior laryngeal nerve block. That's a LOT of set-up, and you have to potentially deal with paralyzed cords post-procedure. But, this is probably the most effective for someone who otherwise won't tolerate a tube being stuck through their cords while awake (heavy smoker, extreme anxiety, etc.)
There's many different ways to climb this tree. I've done it multiple different ways. Usually, the way described in the first paragraph is sufficient. And, it also depends on whether or not you're going to go oral or nasal as to how much pre-prep you need.
-copro