I've tried this and not long after doing it, the cable started fraying at the end of the taped section (and this despite the fact that I took some time to make sure the tape was properly placed, and tapered towards the cable). This is besides having a separate charger for home and work, and never coiling the work cable (that goes in the bag) around the power adapter.

There really is something wrong with the stupid cable. It's unthinkable that any of my other non-apple cables would do this.