I also hold the pedal to the column, but I use a loose bungee cord.
Same effect. You want to have something holding the pedal in place to keep the cable loop from popping off of it's hook. I also use another bungee to pull on the transaxle end of the cable to keep everything taught until it's all re-assembled.
Make sure you have the brake pedal return spring in the right position before you put the cluster back in or you'll be pulling it right back out to re-position that friggin spring.
When inserting the "blind" pedal mounting bolt, I find it better to just close both eyes and keep trying to thread it on with a short socket on a 6" extension (figured that was fair, given the "blind" bolt). Cussing here seems to help. So does a break after a while for a nice, hot tea. Put the rear bolt on first to at least get the cluster half lined up...That seems to reduce the cussing.
I find it easier to get both bolts going and only, say, one turn of the threads in, then move the cluster slightly to allow the brake push rod to move past and into the master cylinder socket, then push the push rod loop onto the brake pedal arm stud, then put the spring back on (I use a pair of needle-nose Vice Grips).
I truly gave up on the rubber band around the hook - I could never make it work right - and never used the tape trick. Like Alan, my process works with no cussing (well, almost none....)
Don't forget to glop some grease on the hook and loop......