It depends on how much you are reeling back in when your HMD is not on. You get enough mounting hardware to make an endpoint triangular tension on three reels which makes for extremely easy use when you are in VR. If you set it up properly you shouldn't have much cabling in the way. If you are only connecting one reel at the end you might get a little more interaction with the HMD cabling.
Storage is trickier. If you are storing your HMD near the last connection point(s) of the reels then you shouldn't have much trouble with any cables being unmanageable. If not you can either disconnect the loops around the cables for your HMD or just remove the reels from their mounting hooks. Personally I just take the reels off the hooks so they stay connected to the same points along the cables to my HMD. When I am ready to use it I just put them back on the hooks and I can hop in without tweaking the setup.