I like the cord underneath personally but maybe that's because I have big hands that are fairly callous. The good part about this you don't have to take off the old cork unless it is falling off in chunks. If it is just lefting up in a couple places you can tape it down with masking tape and then wrap the cord on and then shrink wrap it. One thing to think about when you get the shrink wrap. There is the X flock and then there is the same stuff but without the "X" pattern. If you're good then you can measure out your pattern and have all your cord line up perfectly on the X's. Get the stuff without the X and it is a lot more forgiving. It shrinks down to half it's size around the rod but the length does not shrink down but I still go a little long and then trim it down afterwards.
If your existing cork has to come off first then it would be a good idea to put new cork on before the shrink wrap although not necessary depending on your preference
For the cord I use marine grade twine that I have been able to find at Ocean State Job Lot very inexpensively
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