Magento - Passing data between a controller and a block

Really quick and simple question but I can't find a decent answer to this - What is the best way to pass data from a controller to a block in Magento.

Incase it makes a difference, I am loading the layout as follows:

 $this->loadLayout(array('default', 'myModule_default'));

    $this->_initLayoutMessages('customer/session')
         ->_initLayoutMessages('catalog/session')
         ->renderLayout();

I should add, that I have been using the registry as follows:

In the controller:

Mage::register('data', $data);

In the block:

$data = Mage::registry('data');

Not sure if this is the best way to do it though.