I saw the This Old House guy on PBS use the Squeak No More screw system you're talking about. It seemed to work OK. But on a later show he stated that if he had a squeaky floor under carpet at his house he'd just go ahead and pull the carpet and pad and do the fix so he could see exactly what he was doing.
Pulling the carpet is easy. The biggest task is moving furniture so you can pull up/put back the carpet. Carpet guys charge a minimal fee for reattaching the carpet.
I installed one of the screws this morning in an outdoor deck to see how difficult it was. The 2-1/2" screw really loads up the drill. I think it might be better to drill a hole in the 3/4" flooring before installing the screw. The top 7/8" portion of the screw is not threaded. So there's a lot of friction between the flooring and the unthreaded portion of the screw.
Maybe a 2" screw is a better choice -- less work for the drill and me.