I normally do the 1-2-3 method- one week in primary, two in secondary, three in bottles then drink.
In actuality though, my current batch has been in primary since 1-30-07, and I might move it tomorrow or Sunday. There really isn't any reason to rush it- it can sit a long time before off flavors would begin to develop.
If you're not using a secondary, you could leave it in primary for longer. This will ensure fermentation is finished, and allow some clearing. I wouldn't do primary in a 5 gallon carboy, though- not if you're hoping to make 5 gallon batches. Even if you use a blow off tube, you'd lose way too much beer that way. You need headspace for the krausen and a place for the co2 to go. That's why they recommend the bucket first, because during the secondary (clearing) stage, fermentation is over and you don't need all that headspace. Don't bottle until you are sure that fermentation has completely stopped- the best way to do that is to check the specific gravity.