I have a Babylock serger but do not use it very often because I use my Bernina 730 all the time. However, that said, I recently took a class in using the serger to make a log cabing quilt. The quilt turned out just beautifully! The seams were so nicely finished and laid so flat that it was a joy to press and later to quilt. I would not try to piece lots of little pieces or triangles with a serger, but for strips or rectangles it is wonderful! You chain piece just like you'd do on a sewing machine, but lots faster. Think what you could do with jelly rolls and strip quilts...you could probably crank them out in a day with a serger. I'll bet there are books on this.
IMHO, the biggest reason that people don't use their sergers is that they have trouble threading them. Take a class or two at your LQS so you get comfortable threading the serger. Good luck!