I see the benefit of a monitored approach in dodgy weather, but I think it'd be quite a pain in the rear to do every approach that way.
It's not a pain in the rear at all. Hand over control just before TOD, take over control either around 1000' when visual and all is stable or at minimums (if applicable). It's really very, very easy and takes just a few minutes to get used to. I much prefer it to the 'whole sector'-type flight that you're used to. Horses, courses etc etc.
As to the PM using the thrust reversers...
Why the stupid emoticon? The procedure works very well and it does offload the PF, who can concentrate on doing other things is strong crosswinds etc. Just because the PF is no longer an all-conquering hero who single-handedly fought the bucking beast onto the runway does not mean the procedure is flawed. You brief what you want, if you want more or less you just say. It's not rocket science, it works very well and has advantages over the PF using the TRs. In fact, I'm hard pressed to think of any reason why the PF needs to handle the TRs apart from that's the way they did it on the 707 and we can't possibly use our intelligence to imagine a more effective use of resources. The Captain is no longer a one-man band who has to do everything........unless he's a control freak.
Does the PM also control thrust on approach?
No need to be facetious just because it's not the way you do things.