The only use I have seen for it is as an also-ran in a Scarab deck, on the off-chance that you might face a stall situation. Even then, many dedicated stall decks will simply laugh at Catapult because it doesn't deal enough damage to combat the recursive healing that stalls carry.
Not sure if this has been mentioned yet, but Zanz buffed catapult slightly.The damage formula is now dmg=75*HP/(75+HP)
Hmm... I smell a FG coming focused around this card... After all, they can have fifty armagios in their decks...
The damage buff helps a lot, but gravity as a whole still needs a buff in damage. Catapult is a great first step, but its also countered pretty easily.
Osiris currently has this card in trainer...This will be painful =O