A quicker workaround is to change the port number (on the create server screen). Just add 1 to it or something. The catch, of course, is that whatever port you host on must be forwarded (assuming you have a router) and allowed through any firewalls.
The cannot bind to port error is time-dependent. What happens is that the operating system is reserving the port that you're trying to host on, usually because someone was connected to it and the OS hasn't received a notification that the connection was properly severed. All you have to do is wait and try again; quitting and re-starting the game shouldn't be necessary.
I also noticed that when I open up my steam menu to my games tab...and then I right click the game and click on "Properties" then click on the "Set Launch Options" button and add -dedicated to it and then try to launch the game...all it does is real quick when I view from my taskmenu run the program for like a second then shut it down...without giving any errors or anything...
Yeah, it's still broken. I thought I'd fixed it, but noticed just before release that it wasn't really.
I decided to just omit it from the patch rather than hold up all the other critical bug fixes. It'll hopefully be fixed in the next patch.