We're using SELECT @@IDENTITY right after the statement, but we use this only on the tables that don't have triggers. I don't like this solution much, but I don't see a better alternative. IDENT_CURRENT has its own problems. Out of curiosity (and maybe you answered this in another message and I missed it)....why aren't you using SCOPE_IDENTITY?
Most of the environments I've been in, IDENT_CURRENT would not have been practical at all, for the reasons you stated.