There are other devices, but I use a Topsider. This site (and I'm sure there are others) sells them and parts like gaskets, too: http://www.airpoweramerica.com/

As you can see, it looks like an old-style metal gas can, bright blue, 8-qt. capacity (I think), with a bicycle pump and thin tubing attached. You get the oil warm, you pump 30-40 times to build a vacuum in the can, you slide the thin plastic tubing down the dipstick until it reaches the sump, and undo a clamp on the tubing. The oil flows right into the can. While it's flowing (it takes about 15 minutes), you can change the filter and top off other fluids. The site I linked to also sell parts for it, gaskets, etc.

I pump mine a few more times to make sure I'm getting all the oil out. Then you remove the tubing, pour your oil into the engine (being careful not to overfill), and start up and check for leaks. Then the can seals up with metal caps in place of the pump and tubing, and you can take the whole shebang over to your favorite recycler. You can also use it for other fluids; I drained and refilled my power steering reservoir this spring.

You might be able to find the device at your local boat supply shop, if you have one. Boating people have been using them for years, since (I understand) it's rather difficult to drain a marine engine under normal circumstances.
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-- Paul W. (The Benzadmiral)
('03 Buick Park Avenue, charcoal/cream)
Formerly:
'97 C230, smoke silver/parchment; '86 420SEL, anthracite/light grey; '84 280CE (W123), dark blue/palomino