About 6 months ago I purchased about 150 silica packets from eBay. They were literally desiccant packets used in shoe boxes. I've been using the 200¼² F method most of the times.
Simply place them on a conventional oven for 2 - 3 hours at 200° F. I've found out that this is the method that makes the packets last longer ( 1-2 days ) inside a small sandwich size ziplock bag. I've also used the microwave oven for a couple of emergencies.
In case of the microwave, it all depends on the power output of it, but generally 2-3 mins. at 10-25% power would do the trick (when you see them turn blue). However you have to put them inside the housing or a tight seal case/bag immediately. The ziplock bag wont work as they will rapidly dry the air inside the bag and turn white again.
This is so because in order for the silica desiccant packets to perform their best, they need to be as dry as possible, that's why you need 2-3 hours worth of low heat in an oven to dry them completely. The microwave only subtract a small amount of moisture which is rapidly consumed again. This is why I think the rice-it method wont work too good since the best way is to apply heat.
Be careful with the microwave however, if the power is too high or you leave them for too long they will burn... FAST! Also be sure you have the right kind of desiccant, some of them cannot be recharged.