I have self bound with a wide backing , and if you don't think that was a challenge, getting a double fold like regular binding, you would be wrong. Probably will never do it again. Much easier to do bias binding. I don't buy muslin fabric for my backing because of the very loose weave of some of it. I mostly use the cotton sheeting which has a tighter weave than a lot of fabrics and it comes in a 118~120 inch wide which works great for king size quilts. It works just fine for piecing or binding too.
Bottom line - In my opinion, if you like the fabric enough to do a backing with it, you should probably like it enough to do a binding with it.