This is a great exercise for warm-ups, shoulder mobility and stability, and for hypertrophy. I would suggest using the same grip width as you use on your bench press, but it will depend on your range of motion.
Elbows should be beneath the wrists in the front and back position. Press the bar up just high enough to clear your head, rotating from front to back.
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Use kettlebells and a decline bench for your pullovers to increase tension and range of motion.
Not all muscles respond the same way to lifting. So why train every muscle group with the same methods? Do this instead.
Since I've started writing for the T-Nation, I've gotten 100's of e-mails asking me varying questions about the rotator cuff and its many somewhat magical qualities. While it may not be as cool as big quads or a great set of guns, a well-developed rotator cuff is sexy in its own, injury-free kind of way.