I generally use the Skurka method, especially with a cuben tarp (no stretch with those!). I've been very happy with it, it's strong, very light weight and very versatile.
I have some MLD silnylon tarps as well, and I use their standard line lock system, with the thicker (3 mm?) cords. This system, with what seem to be a slightly oversized cord, works well, and is easily adjustable without even getting out from under the tarp. An extra ounce or two, but after all, if I'm carrying those, it's for a reason other than super light weight!