Using the process's lock is much stronger and takes care of the ungraceful exits also. lock_file is kept open as long as the process is running. It will be closed (by shell) once the process exists (even if it gets killed). I found this to be very efficient:
lock_file=/tmp/`basename $0`.lock
if fuser $lock_file > /dev/null 2>&1; then
echo "WARNING: Other instance of $(basename $0) running."
exit 1
fi
exec 3> $lock_file