While I let the plastic spool soak for 10 minutes in warm water so it can take the shape of my reel spool without too much springing, I put the arbor knot on the reel spool. Also this is a good time to wipe your rod and finger check the guides for any nicks on the ceramic hoops.
Then I do this method http://www.bassfishin.com/video-tips/how-t...-spinning-reel/ and I use a telephone book and put the line though the last few pages for pressure (for 60lb braid, for 15lb-30 mono or flouro I used mid way in the telephone book), and close the book.
When I get out onto the lake I cast a few long casts with a swivel and lure and this gets any remaining twists out. I know you probably can't get 100% twists out but I never really have any twists and tangles anymore.