I love binding ... and I break all the rules !!!!
2 1/2" cut ??/ Pfff! Phoeey ... lets have a 5" cut one!!!
Stitch a 1/4" from the raw edges ?? Balderdash ... Lets make that an inch!!!
From the back ! Raspberry blown at that .. lets stitch it to the front!!!!
Your quilt ... Your binding!
The things you have to think about are ...
Are there any blocks whose points will be cut off ? If so, stitch to the front at a distance that misses all those precious points and turn to the back.
If you want a thin binding Front to back ... the bigger portion will be on the back
if you want a wider binding Back to front
Are you handstitching it down .. either side the hand stitches dont go all the way through the quilt ..
If you're machine stitching it down you need to think about the fact that the stitching will show on the other side of the quilt ... if its going to be seen on a plain border No Problem ... across blocks maybe you want to stitch it down on the front where you can control where the stitches are placed.