I do a combination of the PP's methods. I have two bio courses this semester.
First off, I make sure that I go to class, pay attention, take notes, etc. Most of my instructors print off powerpoint slides/outlines, but I try to add to them if possible.
My micro prof, to put it mildly, sucks. I am teaching this entire 5 credit, 300 level course to myself. My most recent bio course before that was 10 years ago.
I read the chapter, taking notes on notecards as I go, basing them off of the prof's slides. If it is possible to draw some sort of diagram for the concept (or copy one from the text), I do it on a huge (~8x5) notecard. Things like glycolysis, the lac operon, transcription, translation, anything chemical - it gets drawn in black Sharpie pen, labeled, and colored with colored pencil.
Then I make an outline out of my notecards, using Microsoft OneNote. Love this program. It is a lot like Word, but you can click anywhere on the page and start typing. You can paste pictures easily, too. I will often move pics over from the instructor's powerpoints.
If there are any things that I think that the prof might make us "compare and contrast" on an exam, I make a table. If there are any step-by-step instructions, I will make a section for those, and try to come up with a mnemonic. Terms - they get a special set of flashcards.
Well, that's my system. Good luck!
After this, I will sometimes teach my husband about the topic at hand. This works better for introductory courses - micro is too far gone and too fast for me to use this technique.