Some basic generalizations regarding stand development besides the obvious risk of uneven development (I'm defining "stand" as either no agitation after the first minute or an additional short agitation sequence about halfway through the development time - typically 30-90 minutes):
1. Typically works best with slower films
2. Typically works best with highly diluted non-solvent developers
3. Typically results in higher effective film speed - but also somewhat less pronounced highlight compression than one might expect
4. Typically results in enhanced or sometimes exagerrated (halo) edge effects
Results can be quite different than compensating development (ie reduced agitation with diluted developers). The overall tonal scale and particularly micro-contrast produced by stand development are unique. Make prints of test negatives to see the results and decide if it is what you are looking for. Some people claim stand development gives negatives that "print themselves". I don't think this is the case. It is not a fail-safe, just another, different technique.
Regarding highlight compression, if this is your goal, I have found even more control is possible with less severe/risky reduced agitation/dilution methods, however usually with lower effective film speed than pure stand development.
Regarding edge effects ehnancing apparent sharpness, reduced agitation methods also do this, although the effect is more exagerrated with stand development. Note however unless the edge effects are very exagerrated, substantial enlargement is typically required in order to see the difference.