I waited for it to go on sale and bought the West Marine oil extractor (and there are lots of others available). It builds up a vacuum with a few pumps, then you crack a beer and just babysit the tube in the hole with your free hand.
I got this on one of their Friday e-mail sales for about $40.
http://www.westmarine.com/buy/west-m...6-5l--11047123
One of my best boat investments, ever.