Yeah, but the press-n-peel blue stuff used for makeing PCB IS the toner transfer method, they just use their own special blue sheets for it. It's like a buck per sheet and one time only use. Too expensive if you ask me. I still would like to find out if you could use thin teflon sheeting instead of paper, that would be reuseable.
The decals are okay for small designs but I don't think you could get something as neat and nice as the board shown in this post using decals unless you had some serious OCD issues, at the very least you wouldn't be able to do fills like the board shows, so it has to be a toner transfer method of some kind. Or real photo resist.