I personally prefer the
My Way
ask your victim if they're there to fight first then fight them and don't bring anything more then one item, some food, and maybe a Prayer Potion or something to make sure that you don't lose anything if you die but you still get to fight them and everyone makes sure they're prepared first and it's an honest duel method. Sadly not many people are up for that, and instead enjoy applying the
Their Way
wait until you find an unsuspecting opponent and hit them from an area where unless they're looking right at you they won't see you, and use magic, and make sure they're in an area with lots of magic-using things already so they don't notice your attack by sound, then come in with a Dragon Dagger (p++) and slaughter them before they know what hit them so you can steal their stuff and rub it in their faces and watch as they lost everything when all they wanted to do was hunt some Chaos Druids or Green Dragons or something method to killing me, which kind of stinks. Puts a bad face on PKing, when it's really perfectly fine if you do it honestly.
Just my thoughts on the matter though, and I'm just about certain that many people are going to disagree with me.