I have actually done pretty well with them. I fished in the 18 acre pond near my house back and forth with spinnerbait, swim jig, chatterbait and it certainly held its own. 18 acre lake, water was cloudy and in the high 50s, prespawn conditions. Hooking % on the chatter was lower than the others, fish seem to strike at the blade as many were hooked outside the mouth or missed it. I controlled my “experiment” for color (same for all 3 baits) and weight 1/4 oz for all. This was all on the same day, same conditions. I would use 1 bait in a cove then #2 then #3 and in the next cove used a different order. I felt like the chatterbait fish that i landed were of a slightly bigger average but did not specifically weigh any fish. Of note, they are not weedless and suffer in the comparison with the jig in weeds/muck but i found it to be fairly snag resistant on dock and thick limbs, but it does catch on small twigs. I should note also, traditionally for me new lures seem to work well in this lake indicating to me they might be used to my spinnerbait technique (??)at least with the bigger fish. I have used it on the river and it has seemingly out-performed a spinnerbait under identical times, days and locations (JC- bet your surprised lol).
Anyway, chatterbaits are not the end all bait, just another tool, but i like them for the muddy water down here as a reaction type bait or a swim jig alternative for stump fields or sparse cover. We also dont have to deal with as many northerns so the risk of loss is less.
Also, a buddy of mine got some knock offs online and his chatterbait lacked the thump and chatter of the “real ones”. His was not a big name bait (not gambler or anything) but it basically just came straight back at him.
Anyway, i keep a few in my “special box” just in case, along with my flying lures, banjo minnow and walking worms