Application Context

A friend of mine has just started getting into .NET development using Windows Forms.  He asked me how he should go about creating a splash screen for his application.  I told him about the ApplicationContext class and that this is the way I would go about it.

I would do something like the following:

using System;
using System.Windows.Forms;
namespace Stahlhood.Windows.Forms {
    public class MyApplicationContext : ApplicationContext {
        //
        //    Member Field(s)
        //
        
        //  SplashForm would be a windows form in your project
        //  with all your splash screen goodness.
        private SplashForm splashForm;
        
        //  MainForm would be a windows form in your project
        //  that is basically the umm Main Form..
        private MainForm mainForm;
        
        //
        //    Constructor(s)
        //
        public MyApplicationContext() {
            splashForm = new SplashForm();
            splashForm.Closed += new EventHandler(OnFormClosed);
            this.MainForm = splashForm;
        }
        
        //
        //  Event Method(s)
        //
        
        private void OnFormClosed(object sender, EventArgs e) {
            SplashForm splashForm = sender as SplashForm;
            if (splashForm != null) {
                this.MainForm = new MainForm();
                this.MainForm.Show();
            } // if 
        }
        
        /// <summary>
        /// The main entry point for the application.</summary>
        [STAThread]
        static void Main() {
            //    Enable XP Visual Styles
            Application.EnableVisualStyles();
            Application.Run(new MyApplicationContext());
        }
    }
}

Is this the way most of you Windows Forms guys do this?  I would like your thoughts on different approaches.