There is another version at http://mrsminiver-happycrafter.blogspot.co.uk/2013/05/doubled-over-neckband.html which is probably a bit faster and easier at the knitting machine end of things, but needs backstitching afterwards on the right side, which is not my favourite task.
The neckband is very neat on both sides and has the extra benefit of hiding an uneven or cut-and-sew edge beautifully. I like it best in ribbing on my garter carriage, but there is a trick to doing a stocking stitch version, which can of course be done on any machine. The band is made separately and joined to the garment body afterwards.
This version of the band could of course be fair isle, lace, whatever with a stocking stitch border. Or you could use mock rib, or latched up rib - you wouldn't need the row of e-wrap for this one and it would be good for mid-gauge or bulky knitting.
The photos show the 'plain' and 'stitched' version of this band, The 'stitched' side also has a rolled stocking stitch trim which I was trying out - before casting off, knit a few plain rows, which will curl back towards the garment fabric.