I use a retractor, since it is easier to pull the console out with dry gloves if you don't have to unsnap something or open a bolt snap. If you have to dive with heavy gloves, keep in mind how well you can operate something with the gloves on.
I personally use an octo holder like the one pictured with the spareair:
Spare Air Package 1.7 Cubic Foot, Octos, Submersible Systems, Spare Air Package 1.7 Cubic Foot
It keeps junk out of the octo, I have it in a glow in the dark version, which helps in dark water, the thing stands out like crazy. It attaches with a split ring onto one of my d-rings, and when the octo is pulled the holder stayson my BC.