Well I do pretty much what Jason said.. I let it settle, with a twist the last few batches I have used the upflow settling model (do a google search). It does not require heat, but does require alot of oil. I start by straining my oil through an old t-shirt into a 30 gal barrel, from there the oil drains into a 55 gal drum, the settling barrel. This barrel is then siphoned from the top for clean water free oil through a 5 micron filter bag into a final storage barrel. I have no clue how to post pictures, but if you send me an email I can send you a picture of my setup.
1999 F-250 7.3L Diesel