As far as the the final stitching the 2 ends of the binding together, I received a little "10 tips" when I renewed a F & P subscription years ago that showed a wonderful way to get it done without worry of that little "bump"--a problem I was having.
I don't cut a diagonal of the ends or doing any tucking, but instead fold the 2 tails back so that there is a 1/4" gap between the 2 folds--I then press in the fold (F & P had you draw all this in). using the creases pressed in as the guide, I overlap them like you would any 2 strips to get a diagonal seam, stitch that seam , and then flip it so it lays flat. If you did it right the only thing left is to trim the seam to 1/4" and stitch the rest of the binding down--works every time! The key is the 1/4" gap between the 2 tails--if I've cut the binding on the length of grain I may fudge it to a scant 1/4" since there won't be as much stretch while stitching, if it's been cut on the bias, I make the gap just a bit more generous than 1/4"--but not much!