I had previously seen Halibu77's furling technique and thought it was a good, simple solution. However, I think I was exposed to stringy's technique first... so I went with that. This technique can be seen here: viewtopic.php?f=32&t=8455
To be honest, it looks like Halibu77's version is simpler and cheaper, though I'm not 100% clear on how it's actually working. I think his system relies on the sail to spin around the mast. Stringy's version requires the entire mast to spin. Which is better? I'm not sure.
I may actually try the Halibu77 version just for kicks. Either way, I would definitely add a block or other guide off to the right to keep your lines organized. I've attached picture of my boat (2010 Oasis) for illustration.
Below: Here's the system with the sail furled. The block with blue line is my sheet. The red furling line simply passes through the shackle that holds the block.
Below: I added a clam cleat to hold the main sheet taught. I double-use the standard side clam cleat for the rudder line and the thin furling line.
Below: Here you can see the sail open and being used. Notice the furling line wrapped around the mast. Also notice that the pedals are totally clear of any lines.
Below: Close up of the system with the sail open and in use.