http://www.xoxide.com/hiper-power-supply-blue.html
Theres the modular power supply I use. Basically instead of all the cables running into the power supply, the cables run into sockets on the power supply. This way you only need to use what you require in your case, and dont have to zip tie the rest somewhere to hide them.
Pro's: I built a workstation using a modular supply that runs around 5 wires total. 1 Optical, 2 HDD, 2 Motherboard. Thats it. No clutter at all.
Con's: Slight resistance at the joints due to metal contacts (no worse than plugging a 120V plug into a wall socket). Some modular supplies have poor retention to the power supply itself, causing cables to come loose (The hiper I linked uses XLR's with a screw retention to prevent this issue.
If you buy a cheap modular supply, odds are you are going to end up with something going wrong, and its gonna go wrong faster than with a cheap normal supply. However there are some good ones out there. The Hiper units are rated quite higher, and are considered to be an excellent 550W power supply (not 580W as advertised).