Thank you for your replies!! Here's my reasoning on the time saving thing.
If I go by the rules here is how it goes, I already have the squares cut up and put in pairs of light on top of dark -
I take each pair, place the Fons and Porter ruler on the diagonal, draw a line on each side of the ruler(each line is 1/4 of an inch away from center).
Stitch down each line (two lines of sewing for each square)
Cut each square on the diagonal.
And my short cut method
Cut each square on the diagonal so I am left with two triangles
Stitch 1/4" from each diagonal cut (I do have a 1/4" foot)
With the second method I save that entire first step which is a lot of time when I have 1000+ of these to do. But I know there is some flaw in my logic because I never, ever hear of it being done this way. A couple of you mentioned that the fabric may become distorted so I'm thinking that is the main reason it is not done this way. But on the other hand my squares are only about 3" - can they become distorted at this small size?
I've always done it the "long" way so in the end I will probably stick to it. The EZ angler - I don't think I've heard of this. Sounds like it eliminates the need to draw the lines, right? and instead it guides you as you stitch 1/4" from the center diagonal? If I understand it correctly sounds like it saves time. Best of two worlds, you don't have to draw lines but neither will the fabric become distorted.