Definitely agree that using a torch does a fantastic job (and, often, I'll use my torch - with a Searzall on it - in tandem with my cast iron skillet to produce a much higher quality result).
Obviously, one of the major advantages of the torch is being able to get the sides of your steak - and all of the little nooks and crannies.
Used on its own, however, it tends to take a lot longer than a good, blistering skillet.
They work incredibly well together!
What I've also been doing of late is using my Weber electric grill to finish my steaks (apartment dweller) - electric grills are the only BBQ's legal for apartments here. I let the grill get to max temp (500F+), 1 minute per side, 4 exposures (so about 4 minutes total). It does a pretty good job, though not as good as the skillet + torch combination.
The "rub" with where I live though is if I'm searing in the skillet, I need to disconnect my smoke detector, close the one pocket door in the kitchen, open the sliding door and angle the floor fan to blow the billows of smoke out the door which come from the kitchen. Heh. The apartment still ends up smelling like steak for two days....but how's that a bad thing?