I have not used it myself (no Hancock's nearby, we have Joann's), but I know of others who *have* used it and said it worked well. I think it is like what Joann's sells as "Blizzard" fleece, which is similar is thickness to Malden Mills 200wt. fleece.
The non-Malden Mills fleeces (pretty much anything available locally) tend to pill a little more, but you can reduce that greatly by washing the fleece covers separately from the absorbent diapers (the fleece will pick up cotton "fuzzies" and get pilly). At $2.99 a yard, I'd say get a little and see if it works for you!