Those old socks make excellent mulch :D Seriously, if you have enough compost to do that God Bless You. Most of us have trouble getting enough for soil amendment. It would depend, to a degree, on the type of compost but rough, partially finished compost, such as you described, ought to be great for mulch. Every time you water it will leach out some nutrients into the soil so you would get the double benefit of mulch and nutrients.

Thanks, and you are right, I wouldn't get enough to mulch all my beds, but maybe the raised veggie beds, or rotate which bed gets the compost mulch each season.

What your soil needs is about 1/2 inch of compost and 3 to 4 more inches of other organic matter, shredded leaves, straw, hay, wood chips, etc. Putting much more compost on a planting bed is usually not necessary and could deprive other beds of needed compost. Think of compost more as an enegy boost for your soil bacteria then as the sum total of what your soil might need.