Be careful what you mark it with! The first time I used it I marked with a sharpie and let it dry. When I quilted through it, the ink transferred to my thread. I had to rip it all out and redo. Now I only use blue water soluble markers to mark it.
I have never 505 sprayed it to any top. I have always pinned it around the peremeter. I am thinking you run the risk of the 505 not releasing and when you tear away you may have bits of paper stuck to the quilts surface. This may or may not wash out and my concerns may be invalid as I have not tried this.
Do not use it to quilt detail or you will spend hours picking out little bits of paper. I mostly use it to do outline quilting, then tear away and go back to quilt in details.
All of these were done using Golden threads:
On these two, I quilted only the outline of the gecko and the fish and went back after tearing the paper away to do the details inside:
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On this one, the quilting in the green part is a Karen McTavish design called Stealth and I did do the whole thing using golden threads and I can tell you it took me much longer picking out the pieces of paper remaining than it did to quilt it out. But I love the result so it was worth it to me.
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An alternative to golden threads is using solvy water soluble stabilizer. You trace your design on the solvy with a safe marking tool like a crayola ultra washable marker or Mark B Gone blue water soluble, pin to quilt and quilt the design and the stabilizer can be spritzed away with water. Actually most of it tears away pretty easy and the annoying little bits you have to pick out with tweezers when using golden threads can just be washed away or spritzed with a spray bottle.