It depends on what you're using it for. For map control/area denial/objective domination it can be pretty good. For straight up combat it's a pile of garbage and you might as well paint a target on your face when you use it.
I've taken a personal liking to Thruster Pack. I thought it was total ass when I first tried it out, then tried it out again a month ago and now I'm in love with it. Most people don't realize it's way more versatile than it seems and you can pull off some crazy stuff with it.