Since team affiliation has always been on the arms I think it should continue that way. The addition of "squads" can use the newer, less conventional location on the mask. Also, the less important "squad" tape is thinner/ less prominent.
I have always appreciated having each side use opposite arms (right, left) for their side designation. That way if you can only see the un-banded side of a player you can still figure out which team he is on.