Does bacon need to be fried until crisp?
In my experience, you'll get the best bacon if you start with a cold pan.  Throwing it onto a hot pan sounds impressive (it sizzles right away), but it will also make the bacon shrink/curl up much more and faster.

I cook bacon half by look, and half by sound.  After you cook it a couple times you'll see (hear) what I mean - the sizzle changes significantly as the fat renders off.  I usually flip it as soon as the sound starts to change, and I flip more than once to reduce curling (unless you have a bacon press, see below).

If you don't have one, I recommend a bacon press, especially if you like crispy bacon.  It also helps it cook faster.  In a pinch, you can use the bottom of a smaller pan - I cook bacon in a 12" cast iron pan, and use an 8" pan as the bacon press.

If you don't have a splatter guard, you're going to want one...

...unless you wanted to cook your bacon in the oven.  This is great for large batches, reducing splatter, and unattended bacon cooking.  Steps to oven bacon:


preheat oven to 400 
cover a
cookie sheet with aluminum foil 
put bacon on foil, leaving a little
    space between
cook for 12-18
    minutes depending on desired
    crispiness.  I lean towards crispier
    bacon so I usually start watching at
    12, pull it out at 15.


One other note, no matter which method you use, you're going to want to take the bacon off the heat a minute or so before it's at the desired crispiness - it will continue to cook slightly after you take it off.  There have been a few times I've made it to my desired doneness, tasted it out of the pan, been very happy with it, moved it to paper towels to drain, tried it a minute later, and it was too crispy.  So be aware of that possibility.