Try it on a piece of other fabric first to see if you like doing it. I like this method and when you attach it to the quilt use a walking foot. There is also a great method for finishing your binding so there is no fold over and open seam. It is hard to discribe here. I found the insructions in Leisure Arts book
'Quilters Complete Guide', by
M. Fons & L. Porter
It is a good tutorial book from A to Z. The finish binding info is on page 97 and continuous binding is on page 95. My other favorite book is by Rodale:
'The Quilters Ultimate Visual Guide'
These two books have a welth of info in them and are worth the investment. They are teaching tools and I refer to them all the time. Good luck with the binding. Hope you can use this info!