I used to include it as a part of the resume/sample works PDF, but I've recently put it in the body of the e-mail in large part so that I could include a clickable link to my online portfolio. I looked online, and both methods seem to be acceptable.

I essentially do both. The body of the email is almost the same as the body of the cover letter, with only slight differences, such as a bit more brief and includes a link to my online portfolio. I also attach a single .PDF of the cover letter as I believe it is convenient for employers to save it or print it.

As an employer and the person in our firm who leads the hiring effort, I find that candidates who really make it easy for us to process their application receive more attention. In the context of your question, my feeling is that you include the cover letter as the first page of your multi-page PDF cv. If you also want to include the text, along with a link to a more extensive on-line portfolio, as part of your cover e-mail, that would be fine.

Some candidates insist on sending us multiple files - some of which are quite large. This tends to really bog down the process of reviewing the candidate's capabilities. If it gets too complex for us, we are inclined to move on to the next candidate.

In our firm, hiring is a team effort and multiple people typically will review electronic credentials before we start bringing candidates in for interviews. It's easiest on us if I can just forward along a complete e-mail to the others who need to review the credentials.

Now, having written the above, I know for a dead certainty that not all firms look at this the same way we do at our firm. Don't take my comments as a 'one size fits all' solution.

thanks guys, i really appreciate your informative responses. Now for the hard part...pressing 'SEND'