As a DM and on the few occasions I get to play I just do the same thing I have always done. I use a scratch piece of paper (ok, sometimes I'll use the dry erase board or even the battle mat. I did have a player who did the excel spreadsheet thing though. I also had a player who made a 2' x 3' diagram display for his Totemist/Incarnate. For Common effects I use alot, I'll make a note at the bottom of the character sheet how it affects my character though.
