It's famous for hammering nails ("The Buchanan Hammer") because an EV exec in the 60's hammered a nail into the podium with one before giving a speech at a NAMM show, then used the mic to give his speech...
Or at least that's the legend...
If you can get one real cheap, grab it. It's fine on amp cabs, and even kick in a pinch.
I think one reason they're not respected is because there's so damn many of them. I mean, EV must've made bazillions of those things...