I use it to thin the herd, if I'm in the shit, where you get that shit luck of 3 deathlords on you, I quickly draw it; the small weight of it really helps, and murder a weak draugr, since the effect has no level basis of making them flee I use the time to heal, hide or quickly attack them from the rear and deal as much damage as possible.
It's very useful in that capacity, making up for the weakness of its base attack.