I'm also a huge fan of the Lost Garden "Design Log" method for small team projects, though it doesn't really scale up when you get really big team sizes.
At my company, we designers will often make visual design docs to convey a pitch or a general idea for a feature, with the intent that it's a one page glance that can get everyone on the team on the same page about the vision for the feature, and is highly visual. They've proven to be very useful in early development.
Even those fall out of date quickly, though, and you have to be on top of archiving and culling them. Nothing worse than a new person coming onto the team and try to catch themselves up based on outdated docs.