I've also tried lots of methods. In the end, here is what is working best for me now:
language reactor coupled with a netflix subscription. I also use pleco as a language dictiory and occasionally watch a youtube video or a read a web page to clarify grammar points that I'm not able to understand just by example.

I'm studying mandarin, so I have language reactor configured to show the dialog in 3 forms: the pinyin, the chinese characters (simplified chinese), and the english translation.

I use it in a couple of modes:

For a while I go line-by-line where it pauses after each person speaks and I use the mouse cursor to hover over any new words I want to learn to get the definition and the sound. In this mode, I'm actively trying to increase my vocabulary. This is similar to the benefits you mentioned from reading, but language reactor makes it trivial looking up new vocabulary words.

Then, when I get tired, I switch to the mode where it doesn't pause on each line, and I try to hear as many of the words from the subtitles as they flash by. When there are some pauses in the dialog, I can also read ahead from the sidebar, so I'll know what the actors will say ahead of time and can mentally prepare more.

When I'm trying to practice reading the characters, I turn off the pinyin for characters I "should" know.

I prefer watching tv shows to movies, because a long-running tv show will use more of the same vocabulary, so there's more repetition.

One of the most substantial advantages of this method of study is I can do it for a long time. When I started, I mostly studied vocabulary via traditional methods (digital flash cards, etc) and I found my brain got tired after about an hour (I'd even get sleepy). Since this method is more pleasurable, I can easily study for 3-4 hours at a time even... And since I'm just replacing time I would watch normal tv, I don't lose a lot of time for other things.