You absolutely can not use it to quantify impurities. All you can really do is say whether it starts and finished melting in a range that's consistent with the claimed substance. It's a starting point, and that's all. But if you're melting fairly far out of range - like 3C or more - and you know that your equipment is correctly calibrated, then you know that there's some kind of significant issue.
For illicit drugs, there are a few services in the EU that I'm aware of that will run a form of quantitative testing, HPLC and mass spectrometry. IIRC - I know nothing about analytical chemistry - they need a pure sample to compare against; they can't just run their tests and then search a giant database and tell you what you have. But if you have a few kilos of MDMA, and you're worried about it being contaminated with fentanil, it's definitely worth the couple hundred dollars it costs.
