Oddly enough, I do not think the new cable I have is long enough to route like that. I had a friend helping me (who did this) , and he swears this (the way mine is now) is the only way the cable would work. I guess that as long as nothing rubs whilst turning or bouncing down the road it should be ok; I sure like the way yours is tucked tight to the body however.
Do you use the autopark, or just the parking brake? When we picked up our LY, the parking brake cable was broken and the AP was leaking. It would not hold the LY on our driveway, which is maybe a 20% grade. I took it apart, and the real tranny seal was blown, and the brake pads had apparently been engaged while is motion. They were glazed and burnt from the heat. The drum took quite a bit of turning to make round again. I ended up putting on a reinforced cast iron drum ($35) instead of the steel ($600).
After all the failures I read about online and the carnage they can create, I picked up a new cable (actually, it took three times trying to find the correct one) and disconnected the AP. So now I use the tranny pawl (that I added), and the manual parking brake. Tested both on a 25% hill the other day; held fine.