I’ve used it a number of times, and there are two main issues: first, it sets at a hotter temp than gelatin, so it can be problematic to add it to cold mixtures, such as whipped cream. If you search the web, you’ll see lots of info on melting and setting temps and how much it takes to gel a liquid.
Second, it sets up with a firmer texture than gelatin, which may or may not bother you. It works well for solidifying fruit purees to use alone as a cake filling.
I have had great results just adding the (undissolved/unheated) powder to whipped cream as a stabilizer- it even stabilizes enough to freeze the cream. However, I use 40% pasteurized (not ultra-pasteurized) heavy cream, so it may not work as well for lower-fat UP cream, I haven’t tried it.