I wasn't gonna get him at first. It took so long for Ironhide to come out though that I ended up getting him, and am very glad I did. He's surprisingly awesome, and it's not something you can really get from seeing images of him: you have to have him in hand.
I agree completely with the arm issues (although they are quite articulate) and I wish he had a gun (especially given that it looked more like a saw blade than an axe in the movie...to me anyway), but he's super-cool nonetheless.
Edit: Incidentally, I found Ironhide the next day, at the same Toys'r'us. Poor me had to buy him too.