Edgar,

Loose line in the cockpit, to me, is the the biggest PITA I can think
of. On a halyard, though, The ends are only loose when setting sail and
taking them down. The rest of the time they are coiled and secured in
place. I see no problem with an extra three or four coils.and as you say
the wear is usually at the sheeve, about 10 to 18 inches from the end.
Cutting makes sense to me rather than turning end for end.

Sheets are another story. They are much more active lines and always
seem to be the line I'm standing on when trying to gather them up.
However, they are the easier line to inspect and turn end for end.

So, I use both methods.

Now, I'm more than welcome to any system to reduce replacement on my
Lazy Jacks!!!

Ole Thom