First, a little background on the word itself and what it meant at the time of the publication of the Book of Mormon. Webster's 1828 dictionary is helpful, offering us two definitions -- "skillful" and curious/ingenious" which are "quite obsolete." We then get three more definitions which are apparently more contemporary: "Shrewd," "deceitful," and "assumed with subtilty."
The word cunning appears 23 times in the Book of Mormon, in the following contexts:
1 Nephi 16:38 -- Laman and Lemuel murmur against their father and accuse him of "work[ing]
many things by his cunning arts"
2 Nephi 9:28, 37 -- 28 O that cunning plan of the evil one! O the vainness, and the frailties, and the foolishness of men! When they are learned they think they are wise, and they hearken not unto the counsel of God, for they set it aside, supposing they know of themselves, wherefore, their wisdom is foolishness and it profiteth them not. And they shall perish. ... 39 O, my beloved brethren, remember the awfulness in transgressing against that Holy God, and also the awfulness of yielding to the enticings of that cunning one. Remember, to be carnally-minded is death, and to be spiritually-minded is life eternal.
2 Nephi 13 -- [quoting Isaiah] "the cunning artificer"
Mosiah 7:21 -- King Zeniff was "deceived by the cunning and craftiness of king Laman"
Mosiah 9:10 -- King Laman was "cunning" and crafty and brought the people of Zeniff into bondage.
Mosiah 10:18 -- King Laman deceived the Nephites "by his cunning, and lying craftiness."
Mosiah 24:7 (x2) -- The Lamanites began to be a "cunning and a wise people, as to the wisdom of the world, yea, a cunning people, delighting in all manner of wickedness."
Alma 2:1-2 (x2) -- Amlici was a "very cunning man, yea, a wise man as to the wisdom of the world." He drew people away "by his cunning."
Alma 10:13 -- "cunning devices" designed to catch someone in their words and have them cast into prison or slain as a result.
Alma 20:13 -- Lamoni senior chastises Lamoni junior for associating with the Nephite missionaries and accuses them of attempting to deceive them "by their cunning."
Alma 28:13 -- 13 And thus we see how great the inequality of man is because of sin and transgression, and the power of the devil, which comes by the cunning plans which he hath devised to ensnare the hearts of men.
Alma 44:9 -- Zarahemnah claims it is the Nephites' cunning and not their faith that delivered them.
Alma 46:10/47:35 -- Amalickiah "was a man of cunning device and a man of many flattering words," and obtained the Lamanite kingdom "by the assistance of his cunning servants."
Alma 51:27 -- The Lamanites obtained cities by the "cunning" of Amalickiah.
Helaman 3:29-30 -- 29 Yea, we see that whosoever will may lay hold upon the word of God, which is quick and powerful, which shall divide asunder all the cunning and the snares and the wiles of the devil, and lead the man of Christ in a strait and narrow course across that everlasting gulf of misery which is prepared to engulf the wicked—30 And land their souls, yea, their immortal souls, at the right hand of God in the kingdom of heaven, to sit down with Abraham, and Isaac, and with Jacob, and with all our holy fathers, to go no more out.
Helaman 16:21 -- the people suppose that believing in the prophecies of Christ will bring the into servitude "by the cunning and the mysterious arts of the evil one."
3 Nephi 21 -- 9 For in that day, for my sake shall the Father work a work, which shall be a great and a marvelous work among them; and there shall be among them those who will not believe it, although a man shall declare it unto them. 10 But behold, the life of my servant shall be in my hand; therefore they shall not hurt him, although he shall be marred because of them. Yet I will heal him, for I will show unto them that my wisdom is greater than the cunning of the devil.
Ether 8:2 -- Jared flattered many people "because of his cunning words" to gain half of the kingdom.
Ether 13:16 -- Coriantumr had studied "in all the arts of war and cunning of the world."
The usage of this word seems to fall into three categories, both negative: (1) crafty, deceptive individuals are described as "cunning" and use their skills for their own selfish purposes. (2) Righteous people/efforts are mischaracterized as attempt to decieve by cunning.
(3) Satan's tactics are described as "cunning" and meant to bind us and subject us to misery and endless woe.