Whether a lens is 'worth it' or not is highly subjective which means you're the best judge of its value to you.
What I liked about the mirror lens I had (500mm f/8 Reflex Nikkor):
Light weight & compact size for such a long focal length
good close-focus limit
relatively inexpensive (for a long focal length lens)
What I disliked:
the slow f/8 (nominal) aperture, which is in practice something slower because the secondary mirror blocks some of the light
no physically smaller apertures
the distracting out-of-focus highlights in the background
Keep in mind the compact physical size does not reduce the need for adequate support for sharp pictures.
Here's an example of a distracting highlights in the background:
(http://www.wildlightphoto.com/birds/picidae/acwo01.jpg)
Also note the vignetting caused by this particular model lens:
(http://www.wildlightphoto.com/birds/picidae/gifl00.jpg)
I also have a $200 400mm lens ... As long as expectations are commensurate with the cost they can be a great value and lots of fun.
Here are a few example photos made with my $200 400mm lens:
(http://wildlightphoto.com/birds/corvidae/ybma01.jpg)
(http://wildlightphoto.com/birds/hirundinidae/trsw00.jpg)
(http://wildlightphoto.com/birds/ardeidae/greg02.jpg)
(http://wildlightphoto.com/birds/ardeidae/caegre06.jpg)
It's a refractive lens, not a mirror lens so it doesn't have the mirror lens' optical signature and it has a diaphragm. I don't make big prints unless I've stopped the lens down to f/8 or so.
If inexpensive is the goal it's quite a good lens. If compact size is the goal, a mirror lens is a better bet.
Doug...good stuff! Is that the Leitz f/6.8?
It's the Novoflex T-Noflexar. The Leitz f/6.8 has better color saturation and a curved field. The T-Noflexar's not bad for its age; I bought it because my Leitz 560mm f/6.8 is the version made for Novoflex so adding the 400 to the kit is just the lens head - not a lot of extra bulk, weight or $$$.
EDIT: It's not just mirror lenses that have distinctive optical signatures. Simple refractive lenses like the T-Noflexar and the Leitz f/6.8 lenses have distinctive optical signatures too, and whether its objectionable or not depends on the nature of the image and the tastes of the viewer. The most common artifact of these lenses results from what I believe is spherochromatic abberation, which can be seen as magenta or green fringes, most clearly on out-of-focus points of light or other out-of-focus high-contrast edges. Note the grasses in the upper part of this photo made with the Leitz 560mm f/6.8 (this is an extreme crop):
(http://www.wildlightphoto.com/mammals/mustelidae/ltweas00.jpg)
The mega-$$$$ lenses shouldn't show these artifacts.