I have done one project in multicam mode and had a horrible experience. Granted this was on my older computer, but the audio is the worst part, as you only get the mixed audio from the original sequence, or audio follows video, which is usually no good if you shot something like a live event.
I had to export a mixed-down WAV and use that for my multicam audio.
If you are pressed for time, try this:
I prefer to do a multicam edit by lining up my video on multiple tracks, then shrink each video so you see them all at once, such as in a quad view.
Then watch your program and add a user mark wherever you want an edit.
Then go to each user mark and razor all tracks.
Then select which shot you want and make that clip full screen and either delete the others or make them opacity 0%.
It seems like more work than the multicam, but if you are in a pinch it may be a better way to go.
Good luck.
Mike