Wiping out the development environment
No, I wouldn't recommend using that method. At the same time, you're risking deleting too much, and not actually deleting the whole thing.
For quite some time now, Xcode can actually be uninstalled simply by dragging the Xcode app from the Applications folder and into the Trash. This will quite significantly delete most of its footprint.
On older systems, you could also open a Terminal and run the following command to uninstall Xcode developer tools:
sudo /Developer/Library/uninstall-devtools –mode=all