I have been reluctant to finish quilts because I don't want to do the hand stitching of the binding. Lucky me, I found the Ricky Tims method on his video: Grand Finale. I just completed a UFO, my Fox wall hanging with this method yesterday, and I really enjoyed it.
On his video, Ricky demonstrates a step by step technique to create a binding, complete with a small piping, which is put onto the quilt completely by machine. The binding strips are sewn onto the quilt's BACK, one side at a time, and the corners are mitered. The binding is then rolled around to the front of the quilt, and stitch-in-the-ditch of the piping on the front of the quilt. NO hand stitching at all! It was fairly easy, but I could not have done it for the first time without the video.
This is a very general idea of how he does this, I recommend getting copy of his video, check out your library, or it is available for sale on the internet if you are interested in binding by machine.