With the recent lack of stock for the two least expensive quick release systems for your camera, I thought it was high time that someone came up with a DIY version. I've used both the Sima Quickonnect and the Manfrotto 323 RC2 clone and they are very effective. The problem has never been IF you should use these systems, only IF you can find them.
The "Frugal Fast Release" is my solution to the problem. Granted, my version isn't nearly as robust, but it does work (on smaller cameras) and you can make three of these for the price of one of the other models. There is no locking mechanism on the FFR, so be aware and act accordingly, and nothing bad will happen to your camera.
Metal Flash Cold/Hot Shoe Mount Adapter with 1/4" threads
1/4" rubber grommet
1/4" tapered machine screw, 1/2" in length
Countersink drill bit(s)