Good advice. It's basically a hack of the split login page, and on that note I would definitely recommend split login over traditional if you're using this mod.
On my live store, I've been using a bold header which I think does the job. Anyone interested can see it in the wiki with the screen shots. But, based on your note that the mod is somewhat confusing I think I'll include this bold header by default.
It's hard for me to step back at this point and judge the two pages. I think there's a good possibility that your link is less confusing. I'm a bit reluctant, though, to implement it at this point. I might a bit later when I'm in a position to do conversion testing.
That said, I do appreciate template change suggestions. Anything that gives anyone else an idea of how to make their store better is good. (; At this point, however, I think I'm going to step back from the presentation and maintain the code. If anybody comes up with some good template changes, I'll host and link them from the wiki.
Thank you again,
Joe
PS: For that bold header, just use this definition of TEXT_RATHER_COWOA:
define('TEXT_RATHER_COWOA', '<strong>Don\'t Want an Account?</strong<br /><br />Would you rather check out without an account? Click the button below to do so.<br />');
Now J_Schilz
Integrated Checkout Without Account (wiki w/pics, demo, download)