Bread from a bread machine that doesn't suck

I've had a bread machine for years and have always loved it more in theory than practice. But I recently found a recipe that works pretty well. The key is to make the dough in the bread machine, then bake it in the oven. Here's the recipe:

Italian Bread Using a Bread Machine


Ingredients

4 cups unbleached all-purpose flour
1 tablespoon light brown sugar
1 1/3 cups warm water (110 degrees F/45 degrees C)
1 1/2 teaspoons salt
1 1/2 teaspoons olive oil
1 (.25 ounce) package active dry yeast

Directions

1. Place flour, brown sugar, warm water, salt, olive oil and yeast in the pan of the bread machine in the order recommended by the manufacturer. Select dough cycle; press Start.
   
2. Deflate the dough and turn it out onto a lightly floured surface. Form dough into two loaves. Place the loaves seam side down on a baking sheet. Cover the loaves with a damp cloth and let rise, until doubled in volume about 40 minutes.
   
3. Meanwhile, preheat oven to 375 degrees F (190 degrees C).
   
4. Make a single long, quick cut down the center of the loaves with a sharp knife. TIP: If you think you haven't cut deeply enough, cut a little deeper.
   
5. Bake in preheated oven for 30 to 35 minutes, or until loaves sound hollow when tapped on the bottom.