Quick UV Mapping of a Torus in Blender

This entire process is likely obsolete due to the UV Square add-on. (Just two seams marked and press the magic button in that case.) But I'll leave this here for archival purposes and in case anyone wants to know how to do it this way too. How to quickly get a nice grid UV map on a torus or other non-straight cylindrical object. And in case anyone wanted to see the Wings3D version I mentioned (since Wings complements Blender nicely): http://youtu.be/7jTNSFvLa_U