I've used monopoly for wool applique where I didn't want an obvious blanket stitch around the applique. I do a tiny, tiny zig-zag over the edges of the applique pieces.
Not a fan using it for quilting.
Be aware it's NOT advised for children's/baby quilts since the little ones' fingers and toes can get caught in the stitching and be injured. I'd worry about it around pets for the same reason.