In most of the groups I've been in, it almost always ends up being a case of act on your init without making declarations of intent.
The declaration phase in games takes time, sometimes as much as the action phase itself. Besides, after the first couple of participants go, everything everyone else had declared has been foobar'd completely so they end up having to do something else. Not to mention those times they forgot what they declared, which happens often and can be easily avoided by writing it down, which takes even more time. (I have each person do their own writing, saves me from hand cramps.)
Essentially tossing the Declaration Phase has been argued as being unrealistic, and sure, it doesn't give hyperboy the advantage of knowing what everyone else is planning, however it does let slowguy respond to the changing battlefield in ways hyperboy never could because he's always jumping in headfirst without thinking. In a number of ways, it's just as realistic without declaring what you want to do. (On the fairness argument, the fast one got to go first, why should the slow guy get penalized because his original declaration is now invalid. After all, it's a game for fun, not for screwing the other guy.) Besides, if your group is anything like mine, you always have one guy that does everything he can to max initiative so he (almost) always gets to go first. That same person usually has no idea what tactics and strategies are, and doesn't care.
Just a note, I'd totally leave 'Step 2: Declare Actions' in the standard rules, but just know that a lot of people will completely toss that out as a waste of time.
Just my 2 bits.