I bind my F-holes in .070" IBI Ivoroid. I use a pot of boiling water on a hotplate to soften the material to pre-form the bends. I think the heat guns get too hot and you risk damaging the binding. One hint, on the long pieces that form the tight bends at the top and bottoms, leave the tag end coming off the tight circular bend LONNNNGGG... Because of the very acute angle of this mitred joint, to get the angle right along the line where the binding lines meet, you need a pretty long tab. This is crucial if you are using a binding with a purfling line (WBW, IBI, etc.) If you are using a solid colored one piece binding strip, you have a little more latitude, but for a good joint, leave it as long as `you can, and then trim to what you need. I trim to form the joint using a very sharp chisel, and taking small bites so as not to distort the binding material as I cut it. I use a domed spruce block under the domed carved top to support the back of the plate and binding as I fit the joint.
Do the long tightly bent strips first, attach with your preferred adhesive, let them sit for 24 hrsto get properly set. Then trim the long extended tab and establish the mitre line exactly bisecting the acute joint angle, once that is done, you can then trim the end at the middle joint and fit the short strips. At least that's how I do it, and yes, binding f-holes is a booger. I can channel and bind two entire bodies in less time than it takes me to bind a pair of F-holes.
Peace-out,
Gordo