So, I used the Wandering swordsmen in 2 games of the Malifaux tournament in Waaagh!paca. The first game I used him as a minion hunter and the big red target as he started moving towards enemy Lynch (It was a Lynch v. Lynch game!) he butchered one Illuminated and got the other down to a wound before he died from three or four things casting and attacking him. Definitely worth it for the intimidation factor alone.
In the second game I used him, it was against ophelia and more or less every named kin model (remy, raphael, fracois, Lenny, Burt jebsen, and of course Ophelia) and he got thrown up the board by Graves and walked more or less up to his crew. Whilst various grems tried shooting him, his bullet proof 3 made it a joke and he put a lot of wounds around before succumbing to lots of melee attacks from francois, a pig, and leny.
All in all, it worked great for me, because he;s got an infamous reputation, so people want him dead and target him, taking some heat of the rest of your crew for a while.