[taiden]

I like the simplicity of the Grado chassis. It seems to get the job done just fine, but there are better methods out there. The rods tend to get loose, and infinite degree swivel often results in hyper-rotation of the cables which is never good news...
 

 
 
 
Then we have a similar method using a captured wire. The problem is you lose one axis of rotation, but the rest of it is fairly solid. I personally prefer this style, although they don't lay nice and flat on a table like Grados do, which is kind of a nice aesthetic touch.
 

 
 
 
Which cans do you think have the best cup adjustment?

 

[Klaatu]

The Grado method only has the advantage of being able to lay flat. Aside from that, being able to rotate serves little to no purpose aside from causing the cords to tangle and get damaged.