Heres a cool little site detailing everything about do it yourself walnut harvesting.
http://www.wildmanstevebrill.com/Plants.Folder/BlackWalnut.html
That site follows what I was taught too -- with one omission. Walnuts are better with age. Put them (in the shell) in paper bags in the attic for a two-three-four years. The older nutmeat is tastier.