I have a few, but I agree with Roth; they are pretty unwieldy. I also think they can be out of balance, so I don't reach for them very often. I also had a hard time fitting them into a rack, so I had Two Cousins make me a churchwarden rack.
I also agree that they're currently a fad thanks to the hobbit movies. On one hand I think that's a good thing, as it may bring new guys to the hobby. But on the other hand, some of those guys are poseurs who only smoke a churchwarden because it's something they saw in a movie. To me, guys who pick up a pipe as an affectation or a prop are not "real" pipe guys.
Here's another opinion... I don't agree that churchwardens necessarily smoke "cooler". First of all, there's no agreement on what "cool smoker" means. To some, "cooler" means a cooler bowl (which is generally a factor of the smoker's skill and experience, not of the pipe). And since a stronger suction is needed to draw from a longer stem, it can be argued that the stronger suction will produce a HOTTER smoke.
To others, "cooler" means the smoke is actually a lower temperature. The claim has been made that, since the smoke travels a few more inches to your tongue, it has had a chance to cool slightly. The problem with that logic is if true, then nosewarmers should be noticeably hotter than a standard length pipe. And they're not.
And regardless, until we can agree on what we all mean by a "cool smoke", the claim is meaningless.
But don't get me wrong; they're fun pipes and can be quite beautiful. I just can't ascribe near-mythic qualities to them.