You would be limited in quilt size by the length of the rails. (I have a larger Grace hand quilting frame that I need to donate somewhere.) This type of frame is somewhat confining for hand quilting unless you teach yourself to quilt in all directions. Most hand quilters have a preference for direction, which makes this type of frame more awkward to quilt with.
My preference for hand quilting is a lap hoop that seems to be no longer made. It swivels on a ball and is easily adjusted to any angle to suit my hand quilting preference. There is nothing underneath to interfere with hand motions. The closest I can find to mine are the ones Grace has:
http://www.graceframe.com/site/hoops/laphoops
although mine is a round hoop and theirs is square. (Also, mine is all wood.)