Threaded inserts work great, better than screwing directly into the wood, because they won't strip like wood and because it is easier to find the hole when putting the pup in (especially P-90s). There are different types available...knurled/press fit or screw-in. I like the screw-in type better, they seem to be more secure and are easier to replace if needed. But if your wood is stripped it is very easy/cheaper just to repair the wood (drill & fill).
I like inserts better too, but I've never installed them myself. I'd be interested to try, though. Where do you get them?
What size to get for regular pickup screws?
The one I linked uses 2-56, but he says its a bit smaller than regular not to catch the threads of the mounting tab
It looks like he didn't use stock screws though, unless I am misinterpreting it.