A lot depends on your layout - where your HDDs are located. I have rounded cables in my full towers, and my drives are all above in the 5.25-in bays (mobile racks). The rounded cables block less of the air flow into the power supply in that case. They are also shielded (better EMI protection.) But, the main reason I use them is because they look nice. I use yellow for the FDC, blue for IDE1, and red for IDE2. That makes changes and checks visually easy.
As for length, the IDE standard is 18-inches. You can probably go 24 and not have any problems, but I say use the shortest that fit.
Most ATX mobos have the controller plugs on the right upper side. Some older AT boards had them in the middle, and that caused a lot of congestion in the CPU area.