Posting this in case it might be useful to someone else. When I was looking into binding and reading about all the different possible means and methods, I first tried the cycling-shorts-conversion one (where you put your arms through the legs and top of the shorts becomes the binder part), only because I happened to have an old pair around and was curious.
It didn't work for me at all, and I finally purchased an Underworks compression vest, which works extremely well and looks great but I can't tolerate it well for more than a couple of hours, meaning I can't really wear it all day at work.
(I have issues with extremely tight, constricting clothing of any kind, so binding at all is somewhat problematic for me.)
This morning I was cleaning out some drawers and found a couple other pairs of cycling shorts. I can't bicycle again until next summer due to an injury, so I decided to experiment and cannibalize another pair. This time I lopped off a leg and trimmed off the rubber grippy part at the bottom, ending up with a lycra band about six inches wide. I looked at it, thought "No way is this going to fit around my middle," but decided to give it a try anyway.
Lo and behold, it does fit around, compresses things very nicely--as well as the vest--and is so much more comfortable than the vest that I may never go back. I've been wearing it around the house all day and was afraid it would slip down or roll or do something else strange, but it hasn't done anything but stay comfortably in place and do its job. The material is made to wick off moisture, is soft and non-scratchy, and if I put a white a-shirt over it I can even wear it under a light-colored or white t-shirt.
Two pairs of old cycling shorts = four binders, and no additional expense. It might not work for people with very large breasts, but for smaller guys it's worth a try if you can score a pair of old lycra shorts.
Of course, I'll have to get some new cycling shorts eventually . . . . but, for now I'm happy.