I've seen a fair bit of negativity towards Loku in the forums (although not purely so, he's not Biv...) but I think he was the reason we won our campaign finale last night. We were playing Bespin with the ISB Infiltrators forced mission. Going into the final mission, the Rebels had not won a single mission. A couple had been close, and a couple had been complete bloodbaths (*cough* Panic in the Streets). We employed the "anti-snowball" house rule in the final story mission, so the Rebels had 11XP (IP had 12).
Loku had been effective throughout the campaign; dealing reliable damage, providing extra damage for other heroes, and providing free crate retrieval, but it was Overwatch that really shone in the finale. The IP was playing Imperial Black Ops, and played "Hired Help" in the finale, so there was an abundance of Hunters. Overwatch prevented attacks from:
A focused Elite Clawdite Streetrat who attacks with RBGY, with a surge for an additional unblockable Red
A focused Elite Weequay
Two focused regular Weequays
Focused Bossk
An Elite Jawa
As well as stopping all of that damage, it also made it much much harder for the Imperial to use Strategic Redeployment and drop additional enemies on us mid-round. Something we'd learned was extremely powerful in previous missions. The attacks he stopped would have been enough to wound the two rebels who got to the end of the mission un-wounded (Jyn and Murne), so I honestly don't think we could have won the mission without Overwatch.
The map did suit Overwatch, in that the IP was limited in where he could deploy, which meant we could have Loku cover everyone effectively.
Loku's build, in the order purchased:
Scouting Report (1) Mon Cala (4) Combat Spotter (1) Overwatch (2) Study of Enemies (3)
Kit in the finale: A-12 Sniper rifle, Plasma Cell, Sniper Scope, Extra Ammo, Combat Coat
That's a lot of credits invested in Loku, but his abilities meant we picked up maybe 500 extra credits in the campaign, mitigating this somewhat. With the A-12, recon tokens, focus, and access to the bonus surges from the Sniper Scope and Overwatch he was putting out 7+ damage per attack, so anything he drew a bead on pretty much died instantly. It didn't come up, but he could also have cancelled any dodges that the IP rolled with that rifle.
As a side note, the Sniper Scope was excellent - better than the Tac Display on Loku I think. He got bonus surge from that almost every attack, and sometimes 3 times per round (if Waylay was used by Murne).
In summary, Loku is great. He might not be S class, but he's very, very good. If he was with someone who could move him into position (Gideon, or maybe Diala) he'd be even more effective.