Yes, the velcro would / does wear if you use this approach. And, with the 'standard' inflator hose lengths that most BCDs come with, leaving it to dangle isn't a good idea, either. I also don't have a velcro strap on my BP harnesses. I use a piece of slender bungee cord looped under a D-ring, and keep the inflator valve loosely secured near the D-ring. If needed, I can pull it out quickly, but that is seldom necessary.Pretty much every BCD has a velcro strap which is used to hook up that BCD inflate/deflate hose so a diver would be streamlined. However, whenever you need to deflate, you usually hold the hose upwards, right? So, you have to unhook it from velcro strap and lift the hose up then push a button. After this task do you velcro it back again? Seems like a velcro strap can quickly wear out from all the hooking and unhooking. Another option, I guess, never hook it up back... but the hose would dangle more.
I echo this suggestion, particularly with regard to rolling right to slightly elevate your left side. It works nicely. I don't have to do anything with the hose itself (e.g. pull it up to any extent).TSandM:If you go slightly head up and slightly left shoulder up, it should be easy to get the end high enough to allow air to escape.
And, as several have said, if you are properly weighted, you usually don't have to worry about dramatic purges of air. The butt dumps on most BCDs are very useful when you are in good horizontal trim - I would rather go slightly head down, pull the butt dump and release a small amount of air, than fiddle with my inflator hose. Getting used to rolling slightly and / or using the butt dumps is an acquired skill. But, with practice, you will find what works best for you and your rig.