Have over $100,000 in cash but want full FDIC insurance

Here's a tip in the Journal's R.O.I. column about how to get full FDIC insurance on deposits over $100,000 (free WSJ Digg link) (the money has to be broken up across multiple accounts).

[...] you can take part in a program known as CDARS run by Promontory Interfinancial. Details are here. This allows you to deposit your money in one bank, which will then parcel it out in federally-insured $100,000 lots to various other banks. Net result: The whole thing is insured.

With CDARs, someone else is breaking up the money into less than $100,000 chunks for you. Their Web site says you can get full FDIC protection up to $50 million. And there aren't any fees. Sounds like a useful service for a mass affluent depositor.