What exactly are you having trouble with that you feel the need for this tool?

I don't have the tool, however, I finally figured out how to do the binding ends without, It took me about a year.

Binding gadgets were made for quilters like me. Maybe it is because I am so left handed, at any rate, I just couldn't follow instructions for joining my binding, I'd rip and resew about 5 or 6 times on every quilt. Finally, I purchased The Binding Tool by TOM Products. MSQC has a tutorial on using this tool. That solved my problem. I haven't had to resew a binding since. I know, if I were smarter, I wouldn't need that tool; but it works for me and was well worth whatever it cost. I have never used the binding tool you pictured.

Like Franc36, I use the Binding Tool. It's easy to use and understand. Jenny has a video how to use it: http://www.youtube.com/watch?v=ex2PajesRvU I don't remember the cost either, doesn't matter.