I make what is called a Double Fold Binding, and I machine sew it to the back of the quilt first and then turn it over to the front of the quilt and machine sew it down. Turns out perfect.
I will use this for baby quilts, quilts for my bed or kids quilts. A wedding gift quilt I will do the hand method of sewing.
If a quilt is going to be washed alot or used alot I find the machine sewing holds up better. I know some people won't do a machine binding at all, but I know for judging, you can't use machine sewen binding on the front of a quilt.