Years ago I read a book by the Monks of New Skete who breed and train German Shepherds. As I recall (give me a break, I'm getting old here!
) they were very much into establishing yourself as the Alpha school of thought.
Anywho... One of their methods was to tie the dog to your belt so that you can constantly correct bad behavior in a stubborn dog. Sounds to me like the 'leash time out' that you're talking about.
I tend to train my dogs not so much to do tricks as to establish behaviors that make my life easier and theirs safer. Making them wait for me to go up or down stairs first isn't alpha motivated. It's I-don't-want-them-to-trip-me-and-break-my-neck-on-the-stairs motivated!!!
I have a really wide hardwood staircase, and it's cute to look over my shoulder and see 5 pairs of eyes lined up at the top staring at my feet and twitching in anticipation because they know when I get to the landing I will give the command that they can start down. And then again watching my feet from the landing until I get to the bottom and say they can come all the way down. When I get to the bottom of the stairs I step aside and all you-know-what breaks loose as they race each other to the dog door!
Okay.... I guess must get some kinda kick outta being the Alpha Bitch....