You want to have higher density of polygons where you hope for more bends and wrinkles.
It's better to have longer facet edges follow the ridges and valleys of wrinkles.

But, a big but to this is that depending on the material properties, bends and folds will behave little differently.

I haven't seen anyone in poserdom document theese techniques. If I were looking for something to that effect, I'd be scouring univerity websites with papers on applied mathemathics.
Something like this: http://search.yahoo.com/search?p=mesh+topology+affecting+cloth+simulations&fr=yfp-t-501&toggle=1&cop=mss&ei=UTF-8

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