He's been extra good since Self-Preservation was around really. Which has been forever for me since I got into the game after both were out. He fell from favor for me due to too many enemies having high enough attack or boosts from shadow cards that the risk of killing him got to high. And resource generation isn't exactly lacking in Leadership anyways.
If I'm making a deck for a 4 player group though, he's an excellent choice since the best cards are generally taken within the first 2 decks.
And ent draught can cheaply help with the necessary HP to not get clobbered.
Self Preservation was in the Core Set, same as Gloin...
On a similar note, is it safe to say that with the new Denethor, Theodred is effectively dead? I always thought he was a terrible hero, even back in the Core Set days, since you were using a hero slot (and 8 threat cost) to commit 1 willpower to the quest, plus some extra resources on the side. Whoop-dee-doo.
You say that like resource generation isn't one of the most powerful effects in the game.
And no. Theodred is definitely not dead.