I always use a walking foot when I am putting on binding...it really does make a difference. I am a longarm quilter so I rarely use it to quilt, but I have and there really is no substitute. As for the 1/4 foot, you can always adjust your needle to the right to get that 1/4 inch, but you need to measure very carefully and make sure you are exactly at 1/4 or a tiny bit less, otherwise your pieces will be all catywampussed...???....1/16 of an inch off over an entire quilt could add up to 3 or 4 inches!!!
Michelle