Hey IR,
The only warning I'd give you is, don't make the mistake of thinking "20 lb test, no big deal, I'll snap it with my hand", it'll cut you to the bone (don't ask how I know, I just know <img src="/images/graemlins/blush.gif" alt="" /> <img src="/images/graemlins/confused.gif" alt="" />).
The stuff is great for stitching, just don't pull the stitches too tight, you'll cut whatever it is you're stitching. Knots work fine for securing the ends from ravelling.
Overall, spiderwire is VERY well worth the space/weight in a kit, I'd put it right up there with 550 cord, but again, you have to watch the cutting ability. On the other hand, it's a great candidate for garrotte cable <img src="/images/graemlins/shocked.gif" alt="" /> <img src="/images/graemlins/wink.gif" alt="" /> <img src="/images/graemlins/grin.gif" alt="" />

Troy