Applying Parameters to Model groups

I am interested in applying some information (ideally by parameters) to model groups objects.

I found a Building Coder blog post on this from 2009, called "Model Group Shared Parameter" which seems to describe a method.

Since this is pretty old, and seems to involve a few 'workarounds' (e.g getting the modelgroup category), I am wondering:

Is there anything new on this, or should I be ok following this methodology?