I love the tube method. It uses every bit of fabric in the square/rectangle without having to sew a jillion tiny seams. I'd much rather sew 2 long seams and draw a few lines and cut by hand than sew a whole bunch of 2.xx" seams.
However, if I'm using a striped fabric for binding I do cut and sew a bunch of 2.xx" seams because I don't want seams going more than one direction and I want to be able to control it more.