I used play sand in a 125g south american tank. It worked great for growing plants. But any flow directed towards the sand, or any fish moving quickly, or any eartheaters digging through it, caused huge clouds to billow up. I had two overflows on the back of the tank, and both of them ended up 3/4 full of sand, to within 4 " of the top of the drain pipes. I ended up with 1.5" of sand on the bottom of my sump, and I went through the impellers on two different pumps because the sand got pulled into them and chewed them up.
The sand works, but its so fine that it gets blown up into the water column no matter how many times you wash it first. Chances are if you have it in a tank long enough, its going to eat up the impellers on any pumps or filters you have running on the tank.
that's just my personal experience, but I've heard the same from many others, both on here and on other forums.
Considering how cheap pool filter sand is, with the larger grain size and much much less dust to begin with, there's no reason not to use it over play sand.