"Restore With Replace" or drop/restore with Instant Initialization on?
A RESTORE DATABASE ... WITH REPLACE will completely overwrite the database and database log files without the need to drop them first.  

On a replace the database settings are also repopulated in master.  For example, if a database was in SIMPLE recovery model, but the RESTORE WITH REPLACE was in FULL recovery model, the restored database would still be in FULL recovery mode.

Additional note: RECOVERY can be considered risky, since it skips over certain safety checks.  See REPLACE Option Impact at http://technet.microsoft.com/en-us/library/ms186858.aspx

But if you know your restore is replacing the correct files then it works like a charm.