I finally got brave enough to try coverstitching. I'm fairly comfortable with serging, but have never coverstitched before so wasn't sure where to place the fabric (since the seam is down). Was I supposed to cover the seam or sew close to the seam and cut any excess fabric? The DVD that came with the machine didn't mention coverstitching at all, so I looked at a few online videos.
After some test strips, which helped me learn a bit about tensions, and making sure I'd threaded the machine properly, I coverstitched a new hem on a t-shirt.
And by golly it worked! Guess coverstitching isn't a scary as it seemed. What I have to work on is threading, and a better technique for finishing, so I don't have to cut the threads so close to my sewing (and then rethread the needles/looper).