The reality of it is that a yard of fabric, whether it's vinyl, fabric, or Ultraleather, is 36" wide and 54" long. No matter what happens, or how you fold that piece of fabric, the largest piece you can cut out of it is a little over 63" long, cut on a straight line, or if you cut an oval around the perimeter, it would be, at most, 15 feet long. 6 feet of that would be cut straight across the top and bottom of the yard of fabric, and 9 feet would be perfectly vertical, defeating the whole "cutting on a bias" concept. I suppose you could spiral around and use up the whole yard of vinyl by marking it progressively inside of the outside spiral, but to what purpose? The tighter the turns got the harder it would be to sew. That isn't bias cutting, marking it out would take a long time, and the result would be no different than one long piece of straight cut vinyl, but it would take 5 times as long to cut and sew. Wider strips, like would be needed for windlace, would take up twice as much fabric, be twice as much shorter, and would be even harder to sew.
Say you got 75 feet of regular welt cord out of the yard of vinyl by cutting it on a spiral. (I'm sure it would be a lot less) A yard of vinyl would be around 1944 square inches, and a straight strip of vinyl would be 112.5 square inches. Again, it would not make any sense to waste all that vinyl to make a welt that isn't going to be any better at turning a corner than a straight strip.