How to link to a specific time in a youtube video

I had been wondering. Just add

#t=16m08s

to the end of a youtube link, where "16m08s" corresponds to 16 minutes and 8 seconds into the video. Like this (battoning with a relatively short fixed blade knife):

http://www.youtube.com/watch?v=UI8NWxilyGQ#t=16m08s