Whether it was the "best" approach or nor: I went with the training wheels for my 2y/o daughter mid-last year.
Why? Because all her friends had them and she wanted to ride with them and fit in - and she loves to ride her bike both with her friends and with me around the neighborhood. Now that she's 3 and rode her bike for half last summer and going into this summer: I suspect I'll be taking the training wheels off later this year.