Unlike Marilyn, binding is almost my least favorite part of quilting. It is second only to pin basting! But both are necessary and I agree with Marliyn that it's important to have a nice binding and I'm very particular about mine. It's a bit of an effort to get it right, but I'm always thrilled with what the binding adds to the look of the quilt. I do much the same thing as Bonnie Hunter. I just don't use the pin at the beginning since I'm very good at poking myself as I'm moving things around! Instead, when I get to where I'm going to join the ends of the binding, I cut the first end square then mark, usually with a chalk roller, where the cut end hits the other end to get a nice, flat binding. I then cut the other end at the width of my binding strip (I generally use 2 1/4") past the mark. Then I join the ends in the same way. I, too, cut it a smidgeon short since I find it lays better in the end.
The thing I hate most about doing the bindings is the hand stitching on the corners on the back. Since there is so much extra fabric there from folding the binding strip, it's really hard to get the corner pieces to sit where I want them so I can stitch them. But I just wrestle with it as much as needed, use the side of my needle to pull the back fold towards the edge of the quilt and use my ladder stitches up the miter to pull the two sides together and contain that extra fabric. A real pain, but it seems to work.
I generally sew the binding on before trimming the edges of the quilt. I match the edge of the binding with the edge of the top and sew 1/4" in from that. Then I trim 3/8" from the sewing line. If I'm using a new type of batting or something else might affect the width of the quilt sandwich, I will start with a test trim of a short area that is a smidgeon wider than what I expect I'll want for the trimming width and then will fold the binding over in that area to see if it is filled out as I want. I do this until I get the right width, then trim the entire top. With this method, you have to be very careful at the corners if you are trimming down to the original 1/4" so that you don't cut off the fold on the binding. This method gives me a good fill of the binding and my corners still seem to turn out looking nice. At least to me and my friends, who tend to comment on my nice binding and corners.
Nancy