I have only done big stitch hand quilting with crochet cotton, but before I started quilting I used Guttermann polyester thread quite a bit. I don't use it at all any more, because once I started using Superior So Fine, I never looked back.
I really came to hate it (yes, a strong word) for hand sewing anything, because of it's tendency to tangle and knot up. I would dread sewing on buttons or hemming anything because it was such a pain in the neck. Your mileage may vary, so I would say that if you want try it, use short lengths and something like beeswax or some other thread conditioner to keep it from tangling.