I use it when I satin stitch around applique. I don't think it would work well for paper peicing because I think it might distort and stretch the stitches too much when you tear it away unless you use really tiny stitch setting on your machine.
Klue, have you ever tried freezer paper piecing? You don't stitch through the paper. You "sew" your pattern on the freezer paper with an unthreaded needle then once you start piecing you fold the freezer paper on the preferation and sew right next to the fold. Really good directions for this method can be found in Judy Mathieson's book "Mariner's Compass Quilts, Setting a New Course". When I read the directions I wasn't sure I would like this method as opposed to regular paper piecing but I loved it and can't wait to try it again. You can reuse the pattern pieces several times. I have gotten up to 8 out of one piece before it quits sticking to the fabric. The waxy coating on the freezer paper also really stabalizes the fabric so you get no distortion even when sewing on the bias.
FF