Cloud is one of the most useful characters to have in the Deep Dungeon, because of his ability to inflict stop on multiple characters at once with almost perfect accuracy. Seriously, Finishing Touch is one of my favorite abilities in the game. It also makes him great for when you want to steal things. Yeah, you've got to give him Short Charge, but I tend to give almost everyone either Short Charge or Two Swords anyway.
Plus, he can equip Ribbons.
It's far too much effort to make him a worthy addition and equal to current generics or special characters and to replace better generics such as Agrias, Meliadoul, Balthier or Beowulf and you loose out on a support skill to use short charge. You then have to use a crappy sword to actually use his skills. His attack skills aren't really worth using and are outclassed by things like Shadowblade/ Sanguine Blade, Crush Armour and Hallowed Bolt anyway especially on Orlandu or Meliadoul. Furthemore they are based on MA, his PA and WP are wasted due to the Materia blade. The only reason most people bother is because they like the character and I really don't, inflicting stop is also low on my list of priorities. As for stealing, Balthier usually has a 70% chance with me of doing that anyway and Beowulf can help him there. Balthier equipped with a Javelin II and an Escutcheon II with Barrage is pretty much instant kill 100% accuracy. Beowulf is excellent in deep dungeon he can equip robes and knight swords, the way I have him trained all his status effects almost never miss, and chickening and sleeping a foe is instant and reliable. He can neuter foes much more effectively using all of his status effects, a paralysed, disabled, confused, sleeping, silenced, blind zombie chicken with no MP is pretty much permanently out of action threat whilst you hunt for treasure or exits. He won't need swiftness and can use concentrate or brawler to boost stealing if he's the thief or just Half MP or anything else. Finally Vengeance (Shock!) can be pure rape, if you have orlandu KO him on the first turn and have him equipped with an angel ring, Beowulf can one hit kill most things from 8 tiles away, especially if he has high HP. Finally Vengeance (Shock!) can be pure rape, if you have orlandu KO him on the first turn and have him equipped with an angel ring, Beowulf can one hit kill most things from 8 tiles away, especially if he has high HP. Or you could just weaken him at the start, if you're worried about him being killed he has life drain and Stone is as good as a kill to most things anyway.
And equipping a ribbon, well a female can do that and have a chantage and maintenance equipped and pull it off much better. It's useful yes, but female units are much better anyway. Reis is the best Ribbon user in the game as equipping a ribbon doesn't take away all the HP you'd get if she could wear a helmet and she has loads of HP anyway. My Reis is running around with a Fallingstar bag, Ribbon and a chantage/Tynar Rouge and is a beast.