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Dealing with chatty colleagues

From the mailbag, a problem that is all too common:

How can I best deal with a colleague who too often wants to socialize – such as stopping by to chat when I need to get work done?
The curious party who sent this question also offere a possible solution:
If the colleague has the same job responsibility, he or she might be in a position to help. I’d ask the colleague something like: 
I’m glad that you’re here and have some free time to help me. Could you please help me finish this task by today? We can submit the completed work together so that we both can leave on time.
If the colleague can’t help, he or she is likely to rush off and not bother you again anytime soon.
Anyone else have methods for disposing of colleagues that are too talkative?