I do mine with a small horizontal pleat on the wall side of the sleeve so there is room to insert the hanging rod and so it does not make the front of the quilt bulge out when hung. I also mount it further down the back, roughly an inch, so it does not show from the front. The quilt should look dead flat and square when hung.
For a show, where the binding is an extremely important judging area, I would be very hesitant to have the sleeve integrated into it.