In the density functional theory, dispersion corrected semilocal approximations are often used to benchmark weekly interacting finite and extended systems. Here, the focus is on providing a broad overview of the performance of D3 dispersion corrected revised Tao-Mo (revTM) semilocal functionals [A. Patra et al., J. Chem. Phys. 153, 084 117 (2020)] for thermochemistry and kinetics of molecules, molecular crystals, ice polymorphs, metal-organic systems, atom/molecular adsorption on solids, water interacting with nano-materials, binding energies of layered materials, and properties of weekly and strongly bonded solids. We show that the most suitable "optimized power" function for the revTM functional needs a modification to make it suitable for properties related to the diverse nature of finite and extended systems. The present work is an extension of the previously proposed revTM+D3 method with the motivation to design and benchmark the dispersion corrected cost-effective method based on this semilocal approximation. We show that the revised revTM+D3 functional provides various general purpose molecular and solid properties with the closest to experimental findings than its predecessor. The present assessment and benchmarking can be practically useful for performing cost-effective method based simulations of various molecular and solid-state properties.