For those of you that wrap cord around your PSK, how is it secured?

I wrapped the 550 cord around the tin a couple of times (to the width of electrical tape), then taped it down, and repeated it on the other end.
It isn't the best set up if you want to get in your tin in under a minute, and spend less than 5-10 minutes resecuring it. I came to the conclusion that I should keep the 550 cord elsewhere on my person and apply short strips of electrical tape on the lid, and then use one more strip to tape the lid closed.

I first wrapped the tin in orange construction ribbon and then in 550 cord - I secured the ends with Bicycle inner tube. I then stuffed the lot of it into a GI type compass pouch - though I'm pretty certain the tube would hold were it not in a container.

... just make sure you can still easily open your PSk easily, preferably with one hand.

You could use the wrap that Ranger Rick uses for a knife handle:

The Ranger Digest

Click on "Paracord Knife" on the left hand side. Basically, you make a loop of cord (2nd picture from left), and wrap the remaining cord around the PSK until only a small piece of the loop is visible. Then, feed the end of the cord through the loop, and pull it tight from the top. Trim off the excess.

The cord is siezed, just like you'd do the siezing on the end of a rope. I wrapped velcro tape around the whole thing. One hand (and teeth) will unwrap the whole thing.