The 2 reasons this card is surprisingly bad (OK, OK at least not as good as first expected) are the same reasons that Bandolier is surprisingly good:

1. Two handed weapons make you forgo lots of great non-disposable assets like Machete and Magnifying Glass, among others.
2. Then, once the mighty Flamethrower is in play, a steady stream of mediocre enemies will make you debate whether to conserve your ammo and use your fists, or waste an ammo.

So how do we get around this and take advantage of the unmatched combat potential of the Flamethrower? As of this review, there is no way around the first problem so you’ll just have to build around the slot-hungry flamethrower. The best way to get around the second problem is to have alternative combat cards outside of hand and body slots. Best at this strategy is Zoey Samaras, who has her Zoey's Cross as well as access to Shrivelling and Mists of R'lyeh. Taunt is a nice addition to ensure all of the enemies are in range of the thrower’s blast.

This costs 3 resources, a card and 4 actions to heal up to 6 (compared with 1 less resource to heal 3 with First Aid). It has 2 limitations, however: it can only be used once per turn, and only after an enemy was defeated. The top contender for this is William Yorick, especially with Aquinnah since each horror healed is worth an extra damage reversal. Insanity prone ’s like Roland Banks may also be interested.

For most investigators, this weakness is very punishing, especially those with low sanity, like most guardians.

However enter the dreamteam, Carolyn Fern and Peter Sylvestre! She complains how she'd like to eat something human or monstrous... dealing him 1 horror. He disbelieves it, heals his horror and pays her for her great jokes. If this isn't a win-win situation, turning this weakness into a great source of income?

Building around these cards, Calling in Favors allows you to search for peter but requires you to have 4-6 allies in total to work consistently. Those cheap seeker soaks work pretty well.

To get the weakness into play isn't as easy, but any seeker card, draw or tutor helps to locate it. As weakness, you don't even need to spend an action to play it.

The accompanying Monstrous Transformation isn't as beneficial for her, as it reduces her to 2. But it boosts her to 5, so she can fight for once. However it's not very likely you'll see this card every game with only 1 copy in your deck and your focus on finding the weakness, so i wouldn't rely on it.

How does The Red-Gloved Man (RGM) interact with Monstrous Transformation? Both set base skill values to a specific value but which one takes priority? The one that entered play last (which will almost always be RGM)?

Admittedly, I have not used this card in a deck yet.

If I were planning on using Charon's Obol, I might plan to use "I'm outta here!" more, since surviving a scenario without being defeated is that much more important in that case. However, I'm not sure how often I'd use it outside of that.

For investigators who can take it, I think that Elusive is the better alternative. Resign effects are normally printed on either Act cards or Location cards. If the Resign option is on the Act card, then there's no reason to use "I'm outta here!", since you could just use the Act's action normally. If the Resign option is on a Location card, you can use Elusive to get there (since it has the Fast keyword) and then resign. Elusive does cost 2 more resources, but it gives you a lot more flexibility in how you can use it. I think it is probably the better pick in most cases.

The two icons are situationally useful. If you're going to use card for 2 icons, though, you're probably better off just using Manual Dexterity for the card draw.

(Spoilers for the Carcosa cycle)

An interesting rules query for this Path to Carcosa Act card - would this card work for the card's Resign action regardless of the location of monsters and clues? My gut instinct is "yes" because the ability is "in play" - it exists constantly but is only useable under certain conditions. If that's true, then that would be the dream use for a card like this one.

(End Spoilers for the Carcosa cycle)

Ultimately, I think "I'm outta here!" is situational, and Elusive is able to cover those situations on its own (as well as quite a few more). For investigators like Rita Young that have access to "I'm outta here!" but not Elusive, it might be worth considering for those edge cases, but even then I would say there are probably cards that would be more regularly useful than this one.