I used index cards and a shortened outline. I would go through all my index/flash cards. As I remembered or was able to recall the information on each card, I woudl put it aside in a separate pile. This way, I was able to focus more on the info I didn't know. After a few passes through the stack of cards, i would skim over my shortened outline just to keep the "known" information fresh.
This worked well for me, especially when I had a few weeks to go through the info.
As for not looking at your outline in an open book class, that blanket statement is false for a lot of people (as blanket statements tend to be). I prepared well for all of my finals, and I used my outline to answer every damn question I've ever had on an open book exam. I knew the material, but didn't waste my time memorizing it. My outlines, which were rather long, were tabbed and highlighted in a binder. And I since I graduated as one of the top 10 students in my class and never got less than a B+ on any exam I've taken, it seems safe to say that I was well prepared.