can't really search for it now but if you search on youtube something like "thermal paste application testing" you can find a video where a guy uses a few different thermal pastes and applies them with various methods (blob, line, spread etc...) between two clear perspex sheets so that you can see how well it spreads and also the development of air pockets (which is bad).
personally when using artic silver 5 i used the spread method as i had lapped the heatsink. then with ic diamond 7ct i foudn it was hard to spread so i just used the pea method after having the tube in my pocket to warm it up and make it a bit more fluid.
then i used liquid pro.... and that's just the smallest amount you can get out the syringe and spread it out as thin as you can to leave a sheen over the entire surface with next to no excess.