I'll confess to using a variant of the zip tie around the mouthpiece and overhand knots at the end of the bungie. The variation is that I do NOT use the mouthpiece zip tie and the zip tie is not cranked down. I want to be able to pull the reg off the bungie without too much effort.
If, for example, something caught my necklace, I can pretty easily just pull one end out from under the bungie and then slide the bungie past whatever has caught it. IF, however, it was cranked down with the same zip tie that held the mouthpiece, I don't think I could do that OR the mouthpiece might also come off -- neither being what I'd want. In addition, the traditional full loop of bungie and sliding knots around the mouthpiece means I have a complete circle around my neck. If something was caught, I'd have to cut the bungie or somehow bring it over my head, dropping my primary, etc.
I think the way I've evolved is simpler and, perhaps, a tad safer.
YMMV
PS TSandM doesn't think I can pull an end out from under the zip tie -- test is about to occur, depending on which of us goes down to the very cold basement to grab a reg!