We used the Playtex nurser bags so they got tossed after each feeding - no cleaning there! We washed the nipples in hot soapy water, then boiled them. We actually boiled tehm with the neb cups. We replaced teh nipples about every 3 weeks, because boiling tended to break them down faster. We air dryed them. (Still air dry all of Em's plates, sippy cups, etc...) We had LOTS of nipples, so having a clean and dry one for a feeding wasn't a problem.
The bags were a bit more expensive than bottles in the long run, I suppose, but we got them at discount stores so we probably spent about $12 a month for 18 months... But it sure was easy!!!