There's really no one answer to this; it just depends on your situation. For example, I'm on an official carrier and don't care about unlocking/preserving my baseband, and have never used any sort of Cydia backup (I just take the half hour or so to reinstall my Cydia apps after re-jailbreaking). So for me it was simple:
-Update in iTunes
-Re-jailbreak w/redsn0w
-Reinstall Cydia apps
But for someone who cares about baseband preservation, that would add a step. Care about preserving data in your Cydia apps? Another step. The article you linked to talks a lot about using the Restore As New Phone option, which is where DataDeposit comes in...I've always used the Restore From Backup option--and despite all the warnings you'll see online, I've never had any issues with it--so I don't need that step, but if you want to do that then that's another step.
So: you can see how it's really different depending on what you want or need to do. Decide that first and then you'll be able to streamline the process.