I've got a couple of these myself but can't see myself ever using it. For the 10 or so battles I've played and the opponent has used it, it basically sets up for a loss if you can't draw any monster after the first time you activate it. It's been the downfall for all duellists I've faced thus far.
It was one of the first equips ever released that got over the 500 attack mark, so the age shows. However, I can't understand why they would make it SR when there's much better stuff to make into a SR. Maybe just nostalgia bait.
the thing that is hard to understand about that is coming back to the top of the deck is not good, and just +700 attack on 1 monster is not good! that's why it's hard to understand!
Yup that's its problem, but that's also its edge. E.g. Your monster got wiped out by tribute doom, you can immediately equip this to another monster in your hand to turn the tide.