raggmann54 They changed the out of bounds rule a few years ago to eliminate the need to go back to the tee. A lot of people seem to have forgotten this, though.
It's a little bit more complex than just dropping a ball where it went out, but not a lot. The thing is, you have to add two strokes, not one.
So, if your ball goes into a lateral hazard or into water, 1 out, drop 2, hitting 3. But if it goes out of bounds, it would be 1 out, drop 2 and 3, hitting 4.
This preserves the difference between a lateral hazard and a true OB while eliminating the walk of shame and the holding up of play.
Personally, I would be happy if they got rid of the entire idea of OB and just called everything a lateral hazard and made all of them a 1-stroke penalty, but until they do, if I don't play a provisional, I am adding two strokes to my score if I hit it OB and taking a drop.