Mark,
I have found a number of ways to deal with squeeze out. Frequently I
put on blue masking tape along the joint if possible. I also use Lee
Valley's glue which has a much higher content of solids and less water.
It drips much much less. A recently technique is using a plastic fine
tooth adhesive spreading tool like for tiling or other and dragging it
over any area more than about 1/2 inch wide and this creates grooves of
less glue alternating with more glue and there is much much less
squeeze out. The driippiness that so many woodworkers seem proud of
with titebond had made me use it less (but it is cheap and works
well)until if found the adhesive groover tool (really cheap relief -
use it over and over) . You only need enough squeeze out to see the
joint gap is filled. I also use less glue if my boards align better.
I am getting better and better joints _ at least edge joints with less
and less glue.
Hope that helps.
Oh, the lee valley glue is so dense it does not really sink in to the
wood and is cleaned up when it becomes rubbery or later and seems to
tear out wood very little. Also, has a nice color when dried. It is
cheap except for the shipping.
I also prefinish a lot.

Mike the progressively less incompetent woodworker