In short:
Passive is good for
1) Flanking
2) Killing laser missle boats
3) 1 vs 1 duels, when your enemy is passive also and you have the possibility to surprise him
4) Going under AECM
5) When you have direct-hit weaponry, but bad electronics.
6) Sniping.
&)...
Passive is bad, when:
1) You have C3.
2) Good electronics (GECM, BAP, BHP, AECM...)
3) Hearing that ASF noise.
4) You are a missle boat. No, rly!
Usually, pinging your radar can be recommended.