Film Editing Pro has an good article on using Multicams vs Merge Clips in Premiere Pro.
Now like Sofi Marshall I do like Merge clips, but just wish Adobe would fix them, getting rid of meta data and not being able to go back to original clips without exporting an xml and re-importing (and the fact that this works shows that Merge clips still has the data somewhere). And I don’t like single angle clips to be multicam, but they are right that as it is now Multi-cam is slightly superior.
Still might just switch back to using Red Giant (or should I say Maxon) Plural eyes and sequences unless Adobe does something about Merge clips.