http://www.youtube.com/watch?v=JUz266TU9JE
Personally I just use the over over technique it works and it suits me fine.
Never have a cable tight on anything (like wrapping it around the elbow and forearm) Metals are open to a phenomenon known as work hardening. When you keep beating or bending a piece of metal it becomes more hard (feel free to make your own innuendo) keep going and it starts to crumble. Your cables are prone to the same thing. Avoid this by putting loose bends on the cable never wrapping it tight or putting extra pressure on it (standing on it for example)
Any cable with a decent solder joint is sufficient. Never pay for improving tone or whatever no need for special magic cables that are extra expensive. Simply look after your cables and they will last you a long long time.
No point putting extra wear on anything by constantly plugging and unplugging it when you don't have to. But I'm sure the jacks and 1/4" connectors have a decent life span. So I wouldn't let it worry too much either way.