Bumping this thread. This is spot on; I use a similar acceleration technique for my Cultus and automatic Civic.
With an automatic transmission, you want will want to use the heaviest throttle possible without downshifting. With a manual, you don't have to worry about downshifting; throttle away. Use the highest gear possible that doesn't induce engine knock, while keeping the RPM low.
What this achieves is a reduction in pumping losses (they reduce fuel economy), while retaining a decent rate of acceleration.