I recently saw an article in Sail Magazine that showed a figure 8 coiling technique that looked really interesting. Unfortunately I can't find the right issue but I did find the article on the Sail Mag site that appeared in the October 2006 issue at
http://www.sailmag.com/cruisingtips/...r06/index.html . Unfortunately the link does not show the results which are shown in the actual magazine.
Not sure how practical this method would be but I have tried it a few times just for fun. The figure 8 method is suppose to cause less tangles during uncoiling.