Setting up multiple hosts on your mac

I have always just relied on one hostname, localhost when developing on my mac which has only just struck me as a little strange. On my PC in the office, there is a huge long list of other host names all pointing back to localhost.

I decided that I should make the leep and just do the same with my hosts file on the mac but I thought their might be a better way... A quick google comes up with a post on viebrock.ca that talks about exactly how to get it all happening.