One thing I've seen with homespun fabric is that it fades with sunlight. We've had several bolts at the store with a fade line right on the fold. Haven't seen it on any other fabrics in the store.
But I have used it in quilt tops, and as backing. It seems alright, and I just used 1/4" seams. Makes me want to ask the people I gave the quilts to, if they're holding up alright.