I did a rag quilt for hubby, and set on point like you did ~ he liked the extra hanging off and wouldn't let me trim it... to this day it bugs me. But he loves his snoopy flag quilt (I did patriotic snoopies on one side / a huge flag on the other)
So since he liked it, I did a table runner for my kitchen table to match the curtains/rotisserie cover I made. Next time I'm cutting it flush, it took me hours to put that dumb binding on, and the inside corners, although mitered, get weird everytime its washed... I have many many times thought "next time its washed, I'm cutting it down to square the binding"...
It is very time consuming, but if you've got the patience and time, go for it! :)