The advantage/disadvantage of thrust reverser handling by PF/PM IMHO depends on the technology employed as well.
On earlier jets there probably was some danger of overboosting the engine or exceeding some parameters, making it wise for the PM to look at the engine gauges while the PF stayed outside.
On more modern engines having devices (FADEC, EEC, etc.) limiting this danger to almost nil, the PF might be better off handling the reversers himself, thus having a little less delay when deselecting them for control problems, whatever.
As for monitored approaches, they work great although I don't see a necessity to use them in fair weather.