Computing and then comparing common denominators can be extremely tedious, as is changing everything to decimals and then comparing the decimals. Try these common-sense methods -- you'll like them!
It is important to be able to picture fractions in your mind (that's one reason using manipulatives is important) -- at least the ones with single-digit denominators. For example, if you use a pie to visualize, let's say, 2/3 and 4/5, it's pretty easy to quickly tell which one is larger.