I’ll admit, I underestimated the Immoveable Rod. About a half dozen adventures ago the PC’s came across a small treasure hoard after defeating a wyvern in some foothills. As a throw in I included the rod so that everyone in the party would get something magical (I was being generous). It wound up in the hands of the party barbarian, a strong dexterous fellow by the name of Mongor of Mongoria, of the Broadbelt clan.
Mongor has used the rod as part of a pulley system, as a vault for various gymnastics, as a “salmon ladder” (if you’ve seen Ninja Warrior), and most successfully as a way to prevent falling to the bottom of a spiked pit. It is actually a very capable item in the hands of such a skilled acrobat. Mongor’s most legendary feat with the Rod involved using it as a step after jumping up, propelling himself into a leap attack against a flying manticore. One of the other PC’s now wears the manticore’s wing as a cape.
According to the Dungeon Master’s Guide it is worth 5,000 gp, valuing it at less than a Vest of Escape and a Sustaining Spoon.