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There is an Israeli bitcoin exchange (BitCoil), but it has been closed some time before and it doesn't currently support limit orders. I want to understand what's the best way, without using BitCoil, to move dollars in and out of Mt. Gox and/or TradeHill from an Israeli bank account.

The "best" way would be cheapest, most secure, convenient, fast and reliable.

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For smaller amounts you could buy bitcoins from another who holds ILS on BitMarket.eu. http://bitmarket.eu/market/ILS or over the counter on the #bitcoin-otc marketplace: http://www.bitcoin-otc.com

TradeHill had been planning on adding ILS, but there was a setback: - http://bitcointalk.org/index.php?topic=19537.msg366806#msg366806

For larger amounts, having your bank send USD funds via an International bank wire to an exchange would likely the cheapest and fastest method even though the fees to do so are sizable. - http://en.bitcoin.it/wiki/Buying_bitcoins

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TradeHill has international wire transfers and Paxum. They only charge $20 for incoming and outgoing international wire transfers while Paxum costs a dollar a transaction. Funds withdrawn or deposited via wire transfer should be available within a few business days. Paxum should be processed within a few hours (during EST business hours).

More info on deposits and withdrawals.

https://www.tradehill.com/DepositOverview/USD/ https://www.tradehill.com/WithdrawOverview/USD/

Mt. Gox. does not offer withdraws via international wire transfer. They do accept incoming wires which can be sent to their account in Japan. https://en.bitcoin.it/wiki/MtGox#International_USD

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Maybe you could use your ILS to buy in-game currencies like Linden Dollars or WoW Gold which can then exchange freely with BTC

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