Well, my family often makes biltong - I think it's just the South African version 'jerky', but i'm not sure. We tried different 'modern' methods, but in the end, the best way to do it was as follows:

1) Prepare meat - cut off all sinew and parts that you don't want. I personally like the fatty strip, so i leave that on.
2) Cut the meat into long, fairly thin strips.
3) Soak meat in brown viniger overnight
4) rub your various spices into the strips (we use a shop-bought 'biltong spice')
5) Hang meat on wire coat-hangers in a shady, BREEZY area, otherwise it will dry too quickly (not nice), and the flies will get to it and lay eggs on it.
6) Leave for ABOUT 2 weeks
7) eat biltong! <img src="images/graemlins/grin.gif" alt="" />

PLEASE NOTE: South Africas' climate is well suited for biltong making. this is what worked for me after much trial and error. YOU HAVE TO EXPERIMENT if you make it the traditional way. Personal preferance is also a very important factor that you must consider. Oh, and watch that it doesn't get damp - it will get mouldy.

Have fun!