I stopped getting waves when I stopped pressing my binding in half before sewing it on. I use my Juki 2010Q which is a straight stitch machine with a narrow foot.
I took a sample of binding with when I was looking for machines and loved how this machine handled it. I can line up the edge with the inside of the foot, and get a near perfect 1/16th seam around the edge. BTW - I quit pressing my binding in half before getting this machine, and it made a world of difference on regular swing needle machine.