If the runner is tagged, this ICE has one of the best rez-to-break ratios in the game. For the price of an Ice Wall, you get an Eli 1.0 without the bioroid weakness. That's obscene. If the runner has to pay to break it even once, you've gotten your money's worth from Pachinko.
But they have to be tagged. And runners are very smart about clearing off tags when they matter. They have to be, with Scorched Earth forever in the meta. Generally, if the runner isn't clearing tags between turns, they are either stupid or desperate; either way, you've probably already won, and Pachinko probably isn't really contributing much.
However, Pachinko has a saving grace that makes it slightly easier to turn on than Scorched Earth; the runner just has to have a tag when they hit it. Even if they diligently clear all tags before passing the turn, if they take a tag during the run and before hitting Pachinko, they are paying to break it.
At the time of writing this, there are three pieces of ICE which basically guarantee this will happen. The old standby, of course, is Data Raven. Barring "bypass" tricks with Femme Fatale or Inside Job, they will be taking a tag if they want to see the inside of that server, and if there's a Pachinko after the Raven, they're dropping a significant amount of credits there.
Bandwidth is another strong choice. Its effect is a subroutine, not a "when encountered" effect, so it can be broken. But the runner then has to choose between breaking a 5-strength code gate, or a 4-strength/2-sub barrier. Not bad for a combined rez cost of 1.
Lastly, there is Gutenberg. Off R&D, it's not particularly useful, since a Mimic will get through it (and therefore through Pachinko) for 1. But on R&D? Ouch. Trying to pay to break a 6-strength sentry is a nightmare, as is paying through trace-7; but if they don't, then they have a big ugly barrier to break through, and a tag to clear afterwards. This is a pretty efficient way to discourage R&D lock, and only costs 3 to rez together.
With any of these pieces of ice, you have to have Pachinko played first. That's kind of awkward; if you've draw it late game, when you've already iced up your servers, putting Pachinko down on the outside isn't going to do anything. But if you draw Pachinko early, it will do little to nothing until you find your supporting ice. If you're trying to make the Bandwidth/Pachinko combo work, then you've got two different pieces of ice which do nothing on their own, which is unreliable and frustrating to work with.
Data & Destiny is on the horizon, though. It's a pretty safe bet that we'll see some neat ways to help tag the runner and keep them tagged. More tagged runners makes Pachinko very happy. Until then, though, I would probably just stick with Ice Walls.