I use this method all the time for our Community quilts that our guild gives away. I also use it on quick quilts that are going to get a lot of use. It's a fast way to get done and I find that it wears well. I just cut my backing fabric 1" wider, fold under 1/4", wrap to front making sure everything is tucked in and top stitch on the front sometimes using a machine decorative stitch. It looks great and unless you were a quilter you would never know that I hadn't applied a separate binding. It's guaranteed to match! My MIL who is still quilting at 87 has always finished her quilts this way and she learned it from her grandmother in the 30's.