Market - Cost savings (Foreign currency)

Hi all,
 
The representative at WAMU told me that the ATM card (just ATM, no VISA or MC
logo on the card) incurs no foreign currency transaction fees -- so my strategy
when traveling overseas is:
 
1. Use ATM card to get cash and hope it works.  If it doesn't work, then I have
to try a debit card.  If getting cash from ATM is a problem, I guess I have to
carry cash/traveler's checks.
 
2. Use my AMEX card for credit card purchases (cash back offsets exchange fee)
 
I have used Texans CU ATM card in Canada.  It worked, no exchange fee.  I tried
the same card in Taipei.  It didn't work.  I used Texans CU MC debit card to
get cash.  It worked in Hong Kong and Taipei.  (I found out the 1% fee by
ccomparing exchange rates on my own.)  I haven't tried my WAMU ATM card in
overseas ATM yet.
 
While there are other methods of getting foreign currency (perhaps for lower
cost), I must emphasize the following properties of credit/debit cards:
 
1. The exchange fees are KNOWN - regardless of dollar amount, type of currency,
and location where exchanges takes place.
 
2. They are accepted as long as there is a logo in the shop.  Does a merchant
accept anything other than cash or charge?  The answer is "No" until proven
otherwise.
 
3. You don't have to do any work on the conversion.  Chances are, the exchange
fees from the plastic are going to be < $100 on a typical trip.  Is it
worthwile to spend time/energy saving those fees? I am not sure.
 
If a merchant offers to charge in dollars instead of local currency, don't
bother - you get better deal in plastic.