Nihil stone is pretty underwhelming indeed. Would have worked alright as an Uncommon 4 years ago or whenever it was Kamigawa was running.
Still pretty far from the worst rare they have had, if that is one of the contenders for bad bad bad then we are looking at some decent sets. It is no Abyssal Specter (Lets make a rare that is straight up worse than a classic black uncommon!) of aggravating fail or just straight up bad cards.
I understand the need for vanilla creatures for sure, the definitely have their place. I just don't consider 4 for a 3/3 good, it never has been even in fresh starting up making decks from a starter pack and 2 boosters back in 4th Edition. In a time when we are looking to be looking at Mirrordin 2.0 in Standard this kind of thing is horrible.
Looking through Magic 2011 even by itself for Limited, I am still seeing 4 for a 2/4 flyer, 3 for a 2/2 with a sac activated ability (green mind you), 3 for a 2/2 landwalk, 4 for a 2/3 First Strike. GG for a 3/2 Trample (!!!! This is a common). R1 1/1 Tap: Target creature with power <2 is unblockable his turn. 5 for a 3/5 Deathtouch. 3 for a 2/1 Flyer that makes opponents discard when it comes into play. 6 for a 6/4 Trample.
There is still enough there that completely shits all over 4 for a 3/3 in the same set Commons. These were bad before power creep. We are 15 years of power creep down the track and we are still putting out Hill Giant. We have given Craw Wurm Trample for free, but we haven't done shit to give Hill Giant a chance to keep up.
Edit - I know where I have used them, 2 starter Sealed Deck games (Not real games, computer ones). This was of course with 4th Ed sets as well, so yeah I know there is situations they have use. They are just not keeping up with even those uses any more.