the -nowadtextures parameter is what i always use, that way its makes things alot easier when it comes to packaging your map, you dont have to worry about the .wad file, it puts all the textures that you have used into your map .bsp only, not the whole .wad.
Example: if you use 10 textures out of the halflife.wad, it will only include those 10 textures into the .bsp file, not the whole .wad.