Pancho seems to get more quotes on cards then anyone else. As a man, he's someone I aspire to be. As a card, its much more difficult. I mean, Pancho brings everything you need: a rock solid 3 stud and enough influence to keep you in a game and contest important deeds. His cost, though, is awkward. At 5, recycling him isn't really an option and as far as I can tell 5s aren't a value any deck particularly wants lots of anyway. With 2 upkeep, keeping him around taxes you heavily for someone who isn't giving you any unique capability. All that said, there really isn't anyway to bring 3 Stud and 2 influence into the game cheaper, nevermind with a single card. How often are you in a situation where the thing you need a scary shooter to chase the opponent AND some influence to stay in the game? Pancho gives it to you. I mean, it'll cost you in the long term, but getting all those stats for 5 can help you create a situation where there IS a long term or even better close out the game. Having no ability isn't an advantage, but it also means you are never paying extra for stuff you don't need. Pancho gives you raw stats and sometimes that's just what you need.
I think Pancho is a great dude that provides cost efficient stats in the midgame regardless of the situation.