don()shinobi, Overdrive Teleporter is only level 6, so getting it out isn't THAT difficult, especially given cards like Mind Protector and Psychic Snail.
It does make summoning Thought Ruler Archfiend, Hyper Psychic Blaster, and the like much easier. But yeah, it doesn't have the power that Mind Master had.
One of these days I'd like to build a Hyper Psychic Blaster deck; the effect of piercing and then healing that much damage really appeals to me. The problem is how I can get away with it without destroying my own Life Points to pay for costs.