a LOT of people dont use the good teminals with the heat shrink and I fully understand why... the terminals and tools are a lot more expensive and it takes a bit longer per terminal end... but the upside is, it lasts forever...I agree with binding the wires together and having them hanging up and out of the path of any water.
If you use the liquid electrical tape it may make it harder to see the status of any crimp. Also, I know that it would be an issue if a boat was being surveyed because they couldn't see the crimp. They may assume solder was used and that has no place on a boat.
The new crimps with the adhesive shrink wrap may be more expensive, but it is the best and right way to do it. Why worry about doing it again, buy the right stuff, do it right, and do it once.
for those that choose to use the cheaper terminals and crimpers, you will have good luck if you dip the end of the stripped wire in to some heavy silicone grease (like Dow 111) before inserting it into the terminal for crimping...
when you crimp this, it will displace any air and also keep out any water.... for a LONG time. but there is no strain relief on the wire with these cheaper terminale like there is with the heatshrink type...