It's a handy option, but needs user control, per Performance. User needs to be able to select 1/4 note, 1/8th note, 1/8th note swing, 1/16th note and swing version (for those really slow tunes!) at best.
It might be nice to have a 'post quantize' button, so you can pick and choose, but no hardware CS has had this feature yet.
Personally, I have always wanted a quantize option to help with making MIDI files from arranger output. Get the timing a hair off, and you get swamped with all those little 'glitch' notes and portamento commands to pop the 'wrong' note up to the 'right' pitch.
Might as well, while you're at it, see if the Chord Sequence can be saved, and Linked to a Performance (or Songbook entry). That's something everybody keeps asking for over at Korg's forum.
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An arranger is just a tool. What matters is what you build with it..!