I believe that what you want is the WAB (Work Area Bar), which will allow one to Export segments of the Timeline to discrete video files. For more info on the WAB, see this article: http://forums.adobe.com/message/5170142#5170142 Just be sure to select Work Area, when you go to Export.
The short answer is no. Bill's method is simply an older but identical method to setting In/Out points.
If you're interested in batching them all in one bunch, the easiest, fastest thing to do would be to duplicate the sequence as many times as you have clips and then go into each duplicate sequence and take out everything except one clip. It will only take a couple of minutes 9at most0 to do this. Then you can batch the bunch and go play in the sunshine until it's done! I do this fairly often and it really is faster than it sounds