I have a bias binder, but it makes me a little crazy too! I find that I'm happier with my binding if i just do it without this particular tool. (The margarita sounds like a GREAT idea!)
I like to machine stitch my bindings and learned a technique for "piped bindings" that I really like. I'm working on one and expect to get it finished up later this week... will start a topic and post a pic when I'm done.