The Stormy Monday is a great pickup. I guess it comes down to how you like your distortion sound, really, and how much you desire.
From my experience, can you do metal on a SM? Yes, I did it with no problem at the last NY Bare Knuckle jam ... on a 335 clone, no less.
But, for the amount of gain required, and the amount of physical push (and I play pretty hard), the pickup doesn't shine in that setting.
When I played a gig recently using my Riff Raff bridge (also in a LP clone), I loved the tone, but the basic reaction was that it sounded more compressed than my Cold Sweat. Sounds impossible, right? But it's true ... I was pushing the Riff Raff outside of its performance parameters. Will it do metal? Yes, but not ideally.
Unfortunately, there is no panacea one-pup-does-all out there. If you're looking for something to straddle the fence well, however, I would recommend the VHII.
Hope that helps.