I use the pillowcase method when making Linus quilts. It is much faster and a lot less work than putting on an individual binding. I actually sew that pillowcase method on my serger and then tie or machine quilt.
I was involved in a quilt documentation project at least ten years ago in our county. We saw a lot of antique and just old quitls done with the knife edge method. The batting was usually paper thin and the hand stitches required for that method made it almost invisible. I doubt if many of us are willing or able to do that fine a work. I worked for about 18 months in a shop that did alterations and custom dressmaking. More than 50% of their business involved bridal work. I often ended up doing a lot of very delicate handwork because I was a handquilter and was used to working for long periods of time with very small needles and handstitches.