I have the hardwood Country Gentleman, and it smokes fine, after a pretty short break in. I don't really see it offering much advantage over the cobs, though. Maybe a nicer stem...
The little bitty ones, though? They're greeeeeeat, as Tony the Tiger used to say. Cheaper than the cheapest cob, lighter than the lightest cob, and fairly durable. They are my "sitting at the computer" pipe, cause I can clench them so easily. (I don't normally smoke in the house but, when my son is away, I write stories/read forums/game in the computer room)
Like you said, for the price, it's a no-brainer. If you hate it, mail it to me. I love 'em.
They do have some varnish inside the bowl. Mine burned off in just a couple of smokes, but some people sand them clean before smoking.