I really have very little experience with bind wound since they implemented the rest gauge a long time ago, but just in case someone new comes here and is wondering about these AAs, I'll try to start a conversation here.
From my experience since the new rest gauge, bind wound is fun, but has little modern practical use. I would recommend pushing these AAs toward the back of the list. I used to use them a long, long time ago to heal people in places like Crushbone, when I went there to kill Dvinn and I saw people in the throneroom without any healers, or perhaps with a little bitty one. It was fun. I also used to use them when I was out soloing, to do the old 50% health pulling on a warrior, when you wanted to do as much damage as possible and you only had to drop 11% to get to crippling blows, but you needed the health to get the monster low enough to still avoid dying. However, with the rest gauge that boosts healing, I think these are relatively obsoloete. Even if you can heal quite a bit per bandage, I doubt it will outrun the rest boost.
However, I will not rule out the possibility that you are dotted and you cannot rest after the fight and you may die. In that case the rest meter won't start, but you can still bandage. I guess in that circumstance it could save your life. I have never ran into that situation before personally, but it could happen. I'll repost about this after I mess around with it some more, but in the meantime I hope this helps anyone who comes here looking for info about this AA.