Wadders said:
I prefer to do this, usually accompanied with a cry of "jog on!"
Its more British
I only ever use it jokingly though, I never get angry enough to use it properly.
In Australia, we call it the forks, as opposed to the V-victory sign, which is the other way round.
Also, depending on your ethnicity, you can flip under the chin, brush under the nose to signify the other person is snooty or just give the plain old single finger.
I don't drive, so when my fiance is driving, I'm in the passenger's seat. It's my job to flip the bird to idiot drivers who put us in danger...
EDIT: Also, when done to someone's face, like to a friend, people here generally take their time flipping the bird, pretending to wind the finger up, or to blow it up...