I generally don't have very long cable runs at all, I do a lot of stuff using wireless if I can. But every time I've tried the over-under method, it hasn't seemed any easier getting my cables undone. When I've tried to over-under, I end up with weird loops and they won't sit correctly. Even on brand new cables I have this type of problem. When I'm wrapping my cables up at the end of the night, I basically look at the way they are naturally turning, and I don't fight them.
I don't wrap around my elbow though, it seems like it just stresses the cable out.