I mainly use the CS for topstitching jersey/stretch hems and finishings, I've also used it with some success on wovens, but you are right
@Ploshkin , the sewing machine is easier and more accurate, but if you want a rtw finish, the coverstitch is the way to go - particularly the three needle ones - very fancy!
It is also difficult to turn corners, although there are techniques out there, they do take practise.
It really is a very easy, smart finish for hems etc - but I wouldn't use it on a wedding dress!
Just like the overlocker, there are times you feel it's suitable to use it, other times maybe a different seam finish is needed.
I think you just need to decide, as with the O/L, if it's for you.
Jessie