How is spelling taught in your school?

I have just been to an excellent course on phonics and spelling but it has left me with the question of how is spelling taught in other schools?
At my placement school they teach spelling in KS2 by giving children a set of 10 words a week with a test at the end of it to see how many they have learnt.
However at the course they said that this was an outdated style of teaching and it should now consist of children being taught basic rules of how to spell words and applying them. They should learn things like common prefixes and suffixes to help them out.
It is suggested this is done with five short 15 minute sessions every two weeks.
It seems a great way of doing it and from what I have seen, spelling is one of the areas which children struggle at my school.
I would be grateful if others commented how spelling is taught at their school and what works best for them.
Thanks in advance