Do smoke it. Don't fret over it.
Cobs are great smokers with very open draws (which I enjoy). They can last a lifetime, but are cheap enough not to mind if it gets lost or damaged.
Some keep them as test pipes for new blends, others dedicate cobs to a particular blend so not to ghost briefs (and burley tends to shine in cobs for some reason).
I have a 5th Avenue as a travel pipe, which I don't mind losing if chasing after my daughter. I also have a Charles Towne Cobbler, which is a collaboration with C&D and has an acrylic stem. While I enjoy both, the 5th Avenue edges out the Cobbler and I don't really know why.
Enjoy