Strictly mechanically speaking, bundled stretches should be superior to straight stretches (pretty much in every way) because:
1. They add a second force component. The twisting motion adds a stretch that’s perpendicular to the direction you’re pulling.
2. They increase the force in the direction of pull. Or rather, the net force from twisting is NOT perpendicular to the pull so it adds a parallel component as well.
BUT.. given the shape of the penis (it is most definitely not axisymmetrical) the stress (force per unit area) of the stretch will not be evenly distributed. This may be good or bad. In terms of length, the essence of it is that there will be points along the shaft which are stressed more while the rest are actually stressed less (because you’re pulling force is likely less than what you’d use in a straight stretch). If these points happen to be the same ones every time you bundle, then I’m not sure it will be beneficial. Although, given the slow rate of growth expected in PE it may not matter at all. However, I can tell you for sure that the more you can twist it, the better (creating more points of maximum stress).
The same goes for girth, although a perpendicular force is added to every part of the shaft, whereas a straight stretch would have none at all. So even though some parts will be stressed more than others, all parts will be stressed more than they would in a regular pull.
Given the above, it’s my impression that a bundled stretch is unlikely to add much length (depending on how much you twist, of course), but it is probably the only way to manually stretch your shaft in a direction that may increase you girth.