Controlling an LCD with 3 lines from an arduino

I have a bunch of these old LCD boards, and instead of taking up 8 lines on the arduino, this nice tutorial shows out you can knock it down to 3 using a shift register.  Sure I could use a $10 shield to do the same thing, but this method is only 50 cents.

http://hackaday.com/2014/02/03/controlling-alphanumeric-lcds-with-three-wires/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+hackaday%2FLgoM+%28Hack+a+Day%29