I use my serger for everything. clothes (not just knits) - It goes faster and the seams look like ready to wear. I admit if I am in a tricky area, I sometimes sew with sewing first and go back and serge the seam. When I need to hem pants or a skirt, I mark the hem allowance and then cut off and finish the edge in one pass of the needle.
I have made a quilt using the serger. My favorite way is to use denim. Make your serged seams on the top side of the fabric, where they show. When the quilter quilts the seam are turned ever other way. Multi colored thread looks nice on the denim.
Baby receiving blankets are so fast. Round the corners and there is no starting and stopping until you are finished. It is not necessary to use a rolled hem. A three thread flat lock with a narrow stitch looks great.
Remember when using a serger you have to get on the fabric as if you are driving on an expressway (angle on and angle off).
Napkins and table cloths using a rolled hem are fun and fast.
There are other ways to use your serger too, just can't think of them just now.
Remember to take the new owners class your dealer provides. Be sure to purchase through a dealer where you can get help and service. Ordering from the internet or purchasing at a garage sale is not recommended for a novice. I you are experienced this would be ok.
DONT GET FRUSTRATED. It is a different kind of tool. Learning the parts and termanology (sp) is important.
Good Luck!!