Hand Brake Lever / Cable Placement

[brainbug007]

Where is the correct placement for the handbrake lever and cable? I thought it was about 1/2 down the tranny tunnel? I tried trial fitting a new handbrake cable I got and it reaches all the way down the tunnel to where it starts to widen for the gearbox Should I do something like wrap the cable around something at the back end to eat up some of the length?