I have used the method called "Bumpless Binding Finishing Trick" that is a Connecting Threads tutorial. I love it - very accurate and easy to do. I even use it on the mug rugs. I tried to get the link but for some reason it did not work. Connectingthreads.com, search for tutorials and put in bumpless binding.
If you need any info on applying the binding, the Kaye Wood tuts listed on this same Message Board is a great one. I think the secret of her technique is sewing off to the corner. This is the technique that I teach. You don't end up with a "hole" at the corner as you've closed it off.
Hope this helps. Love this Board and all the info available.