This is a quote from the book "The Fundamentals of General Tree Work" by G.F. Beranek; "Also consider fungal, chemical and ultraviolet deterioration in the older lines you acquire. These factors do not always give noticeable indications of deterioration to the untrained eye. Run the line through your hands; spread the lays; bend the line sharply. A deteriorated line will often feel rough, and crack, or "pick" the fibers upon such inspection."
If you haven't had a chance to read this book, I would say that it is imperitive to read it. Since I started reading this book I have already found the need for a few of the rigging and cutting techniques discussed in the book. Just yesterday on the crew I was working with we had to pull some very massive overhang, and everyone on the crew was baffled by it, until I remembered a few rigging schemes discussed in this book. You can get a copy for a fair price from Baileys arborist supply, definitely a highly recommended purchase.