There are quicker ways to make half square triangles, but some give you bias edges, which are a pain to deal with.
There is the grid method, but it probably isn't a great idea for scraps:
http://www.patchwork-and-quilting.co...triangles.html
As someone else mentioned, scrap quilts do take a long time. Check out the quiltville site Tartan provided for her 'enders and leaders' method. It's not any faster, but with some preplanning, you can make a scrap quilt while you are piecing other quilts.