Rainboe
My post wasn't conjecture, just a reflection on what I've observed, and while you point out the obvious benefits of the system, there are some traps which lie in wait for the inexperienced or poorly trained in employing a "one size fits all" SOP.
I'm not suggesting it is not an excellent system, provided the P1 for the sector (ie..the landing pilot) knows precisely at what point he should take control. I've been handed control at 1000' radio in IMC in marginal Cat 1 by an inexperienced FO despite the company requirement for the FO to fly the approach to minimums or until I say "I have control" or "land".
At the other end of the scale I've had to go around from below minimums because the FO has screwed up the last 200' because he waited till "decide" to take control and did not get the feel of the aircraft - applying a huge handful of thrust immediately after taking control and getting hugely out of shape.
Surely the only difference between a monitored approach and a "normal" approach is that there is a transfer of control from one pilot to another and in some circumstances this just serves to add an element of confusion or doubt to the inexperienced or the poorly trained.
I stand by what I say.