My friend taught me her way of doing a machine sewn binding. She cuts 3" for the binding, folds and presses. Sews onto the front as usual. Then she presses with steam and starch all the way around to get the binding flat and even on the back. Then she uses a wide decorative stitch along the edge of the binding along the back to sew the edge of it to the quilt back. On the front, the decorative stitch shows as a sort of border just beneath the binding. She often uses a honeycomb stitch or the one that looks like little off set boxes. It looks nice, but I felt like it was not as soft feeling as handstitching (it can be kind of rough when you rub across it) and would definitely opt for a looser stitch like a serpentine for a baby quilt.
Also Rachel Hauser has a tutorial for a zig zag binding on her blog, Stitched in Color. Her tutorials in general are well-written.