After putting the psd and the text, I select all layers (don’t select the psd or text layers) and click on a small square on the Animation Box (convert to timeline animation). Go to Filter > Convert for Smart Filters, then use the Smart Sharpen (as I prefer), it will make sharpen all the layers at once. Then just save the gif. Note that every time you use this procedure, when you save the gif (Save for Web & Devices), the Looping Options will always be at Once, change to Forever. For some reason, the photoshop changes it automatically, be sure to always check before you save the gif.
PS: I don’t know if the last versions of photoshop will have this options. I use Adobe Photoshop CS3 ;)