What is the correct procedure for applying textures?

[vershner]

Often, I already have a texture. I am not creating the texture from the UV map. I am creating the UV map from the texture.
It may be an existing texture from the game I am working on, or it may be a repeating texture that is used in multiple objects.

The process you describe for assigning the material is exactly what I do, but this gets quite frustrating when I have to do it hundreds of times.