That's a basic and classic recipe. However, if you want to try something that I think is a bit more tasty, here's a recipe I picked up in Cabo San Lucas:
It will take awhile to gather the ingredients, but it is quite worthwhile:
1) 3oz El Capricho Elixer de Agave
The key ingredient is the El Capricho, which is similar to tequila, is 100% blue agave, but is slightly lower alc content (34% vs 40%). It is EXTREMELY smooth, distinctive "top shelf" tequila. Check with Old Town liquors for purchase online.