I have both the bias making machine and the strip cutter machine by Simplicity. I got them last year for Christmas. The strip cutter machine is crap. I haven't gotten it to work right yet. It cuts unevenly, if you can even get it to cut.
The bias making machine is fantastic. Cut your strips, sew them together, and feed them through. It makes 10 yards in 50 seconds, ironing them just right. I bought the tip for quilt binding; it comes with 2 or 3 tips also. It will make double or single fold. I have been amazed at how well this works. Gotta have it!