I just used this method yesterday! I usually hand sew my binding down, but made a modern looking quilt for my daughter (I usually do traditional/civil war types of quilts) and needed it done within the week, so figured this was the best method for that quilt.
LOVE how it turned out. The only thing I ended up changing was the width. If you use her measurements and turn to the front the binding is way too wide for my taste (if you look at her quilt pictured you can see this). I realized this after the fact and ended up correcting it.
I will use this method again, for sure.