It's definately the most powerful attack/movement inhibiting spell of its level.
I have NO idea why more PC's don't use it. I think it's becuase in 3.0 it was SUCH a pain to adjudicate...lingering feelings of "I don't wanna deal with all that stuff" or something.
As noted, it "automatically" cripples rogues, clerics, and bards sands "freedom of movement" or crazy escape artist skill.
It has a good shot (often 50% or better) at stopping full-BAB types for a round or two, particularly at mid-levels.
It forces arcane casters to prepare DimDoor and make a pretty high concentration check -- not terribly tough, but not easy either.
Now drop an Evard's followed by a Silence spell and EVERYONE is screwed. Well, at least 95% of the time.
Drop an Evard's, followed by Silence, followed by Acid Fog and pretty much everything in the area of effect of all 3 spells is going to die by slow but steady increments. It's a fun tactic to pull off with 2 arcane casters and a cleric.