My friend Nan did this comparison video of the Cinch and Bind It All:
That should help make your decision
I use the Bind It All all the time -- yes, I teach classes for them and I teach independently and still choose the Bind It All.
I use the Bind It All for books, calendars, home decor projects, gifts, wall hangings, organizers, to bind anything I want bound like kids book reports, take out menus....really anything you can punch with it, you can bind with it. My gallery is FILLED with project ideas as well as my blog an the Bind It All blog is also an awesome resource for project ideas as well.
I won't argue the points--the video does it perfectly. The Bind It All is even half the cost of the Cinch, the inner workings are manufactured in a factory with over 40 years experience manufacturing binding machines...it really is the best option. If you think about a pre-made chipboard book running about $15, the BIA will pay for itself after you make 4-5 books. To bind something at Kinko's costs $5 per item (and you have drive there and wait hours) so after 10 items the BIA would have paid for itself.
Hope that helps!!