It does indeed have a watercolor paper feel to it: lots of texture, very similar to Kentmere's old Art Classic. It's also a very, very warm paper...much too warm for my personal taste. Of course, one could always develop it in a cold-tone developer to get it into more neutral terriroty. Fortunately, Freestyle's new catalog lists a new neutral-tone version of this paper coming out, called 532 Chamois Natural Base. I suspect this will look much like Kentmere's Art Document.
If you're looking for a Matte surface that's more flat, you might want to consider trying Slavich Unibrom from Russia. Granted, it's in grades #2 & #3 only (no VC, sorry to say), but the Matte samples I've seen are very, very flat. I haven't seen any attempts at handcoloring with this paper yet, but I wouldn't rule it out entirely yet.
Or, you could take a shot at Fotokemika Varycon, as they have a Matte surface VC in both FB and RC.