It sounds reasonable to me, if a bit old-school. But there's nothing wrong with old-school!
A more procedural approach might be to animate the connectors, perhaps as a particle system, and then to extrude strand trails behind them as the cords. The nice thing about this kind of approach is that it's scalable, if you might need to increase the number of cables to some ludicrous number it's easy, same goes for making changes to the connector models and the like. You can also set things up to maintain a relationship between the product and the strands in the event the product must move etc... if the requirements change you have room to extend the behavior without having to scrap your whole approach. How much effort you put into doing that kind of setup would depend I suppose on your gut-take on whether you will see a lot of client changes or whether you anticipate more jobs with this gag in the future, and of course how much time you're allowed. Too often we have to just do whatever seems fastest at the moment.... :/ I wonder if producers realize how often pushing for things to be done super fast keeps artists from that little change that makes things cross over from ok to spectacular...
