I use it quite a bit, I find the only drawback over the other filler I use (Humbrol) is the drying time. I would think it will fill the seam nicely &, as you say, provide a bit of structural support. It's quite solid, once set.
At a joint like you have, I would roughen the edges slightly to give the filler a 'key' to grip to, and leave it as long as you can to set, at least 24 hours.
Pete