I like the notion of entering people's dreams, feeling about in their unfettered psyche. Seems you could learn alot from such interaction. Who they REALLY are, what they felt, hoped to, feared, without the walls of conscious doldrum shielding them. You could probably be pretty helpful to people in getting through difficult trauma and times in their life. Also you'd add to your ability to problem-solve by a factor of a ba-jillion, seeing as there's that whole "I only slept for, like ten minutes, but I swear that dream felt like it took hours!" thing. You could have a tough problem, needed figuring out, well, you and the team thinktank just nap together a bit and pick each other's minds until you came up with a solution.
Not to mention if you went into villainy you could cause some serious damage to the do-gooders, ala Freddy Krueger-style Kung-fu. *chuckles*
Though, I guess if I were a Morlock I'd probably opt for the mutant ability to curdle milk in a three foot radius...