While this card was never seen until recently in tournaments it got being slotted since Combo Decks like CI7 (and other CI Combo Decks, like this Hasty CI) & Railgun are strong. As well as Industrial Genomics: Growing Solutions and Jinteki: Potential Unleashed. And as cards like Friends in High Places are used by almost every deck.
Some of the strong decks are slotting it is as a one of and it can become a match winner. It goes along with the ICE Destruction from the current Whizzard: Master Gamer and the ParaSifr combo (Parasite, Şifr). As it can remove the ICE from the game so a reinstall is not possible any more if it's with Friends in High Places or shuffled back with Jackson Howard or similar cards. Often it's paired with Salsette Slums as this removes all trashed cards from the game and is paired with Temüjin Contract as this rewards running on Archives and as a bonus you may remove a card. And you might use it to load your Datasucker.
Against Combo Decks you can remove important cards as: Accelerated Diagnostics, Reclamation Order, Interns, Jackson Howard, BOOM!, Biotic Labor as Archives is often used to park them to be used after a Power Shutdown. When they are not expecting you to have Archives Interface you can surprise them and may be able to interrupt the combo which usually leads to the win.
Against the Industrial Genomics: Growing Solutions and Jinteki: Potential Unleashed you can use it to clear Shock! and Shi.Kyū so there is not much left that will prevent you from running Archives beside Caprice Nisei. And to stop them from reusing Data Mine and Marcus Batty again and again and again with Friends in High Places.
The Bonus is of course that you can remove Operations such as: Hedge Fund, Restructure, Scorched Earth and others from Archives. This results sometimes in the weird situation that Archives becomes empty.

777

This is a really really good ICE! Anarchs can't kill it with Spooned and clicks like Fairchild 3.0 as they can only break 2 subs. On the other hand it won't stop the runner, so it's more interesting on a central when they are running through it multiple times. The tax of 2 clicks + 2 creds is really nice and makes it more taxing then Fairchild 3.0 without a breaker (or at least the same)! The standard Anarch breaker Black Orchestra needs to pay 5 credits (3 to break 2 subs + 2 tax for the ICE).
It's also a good Tax for Gordian Blade as 3 subs still mean 3 creds regardless of Gordians strength.

For the other "standard" breakers:

So this is a nice taxing ICE, love to use it on all Central Servers. Runners hate it.

777
You also forgot that it can tax 2 clicks and 2 credits without any icebreakers but yeah, post rotation this looks like a great piece of ice. —
It was in there but only as a comment. Updated my review and removed Yog.0 —
<p>This ice will make a comeback in my GameNet decks now that I can get a credit for credits spent by runners.</p> —
<p>Worth noting this gets absolutely rolled by Amina, which breaks for 2 credits and costs the corp 1 in the process.</p> —

Architect is one of the most important cards in HB Decks today (except of Cerebral Imaging: Infinite Frontiers). It was hit by the MWL early 2016 (each copy in your deck reduces the influence of your ID by 1) and the tax is a fair one, this card is really powerful. Before it was often imported into other factions such as NBN.
The important part is, it can't be Destroyed by the famous ParaSifr combo (Parasite, Şifr) the credits you invest in rezzing the ICE are worth it and the ICE wont be destroyed. The tax to the runner might be not that high, but in today's time this is OK.
It's usually install in front of R&D to protect it, but can work well on all the other servers too.
The main moment to shine in general is the early game, when the runner face checks Architect and it fires. First it protects R&D and you will check the top 5 cards and install one. You can use this to place an ICE on the 2nd or 3rd level, without paying the install cost, which is a nice saving. If there is an Agenda on top and you have a nice secure scoring remote you can place your 3/2 Agenda there and score out next turn (with a big smile & "Thank you" to your opponent). If this is not the case you can install the agenda in a new remote and at least you might tax him a click or he might think it's an asset or you find a better target to install out of the 5 cards. If the runner is hitting it last click, just install an Agenda for the score. This gets only problematic if the first 2 cards are agendas. But on the other hand you might at least decide what to do ;-).
If there is something in Archives too that they trashed (or you used your Advanced Assembly Lines) and that you can reinstall for free this is nice. Sometimes they have just trashed it this turn when they checked it's no Agenda. Things like Adonis Campaign, Eve Campaign or SanSan City Grid come into mind.
And you will get your Haas-Bioroid: Engineering the Future triggered in your opponents turn, meaning you gain 1 credit too.

777
If Architect fires, you can often pull out a Jackson Howard to save you, even if there are two agendas on the top. —

The role of Lotus Field has changed with the release of Şifr as the combo with Parasite to Trash ICE immediately is not working anymore and as long as Anrach remains the dominating faction.
It's resilient and currently the cutlery (Forked, Knifed & Spooned) is falling out of favor as you can do the same with Parasite (& recursion). It's imported into all other faction as an ICE that can't be destroyed so easy and it's out of D4v1d range, but weak against Faust (2 cards). With Black Orchestra it's 3 creds to break to much to do that repeatedly as the current Anarchs try to do when hammering R&D. And Yog.0 needs support cards such as The Personal Touch or Net-Ready Eyes which are currently rarely seen.
But it will rotated somewhere in the second half of 2017. It teams well together with Magnet and Architect the only 2 other ICE that are kind of immune to the ParaSifr combo and as long as it's played Lotus Field will remain an important card.

777
Spoilers from upcoming packs: There is a spoiled barrier coming out in Station One that cannot have it's strength lowered as well (Self-Adapting Code Wall) —
@Oooer I don't think you can really compare it to Louts Field... It's rez/str ratio is even worse and it has only 1 str, so it can't be lowered, but it is always low. Inti breaks it for 1. Lotus Field is a problem for Yog.0, which is important to keep this powerful breaker in check. Nobody really uses fixed strength fracters (Mornig Star, Nfr) and even if someone did, 1 str is never a problem for any breaker. A ParaSifr deck is not prepared to pay through a taxing ICE again and again. Lotus Field forces it to do that. A Str 1 barrier simply taxes 1c, so it's even cheaper NOT to parasite it. —
Lotus field is in the Lunar cycle so it's not going to cycle for a while - it's Genesis and Spin that are for the chop —

Chop Bot is (currently) a very important card for Apex: Invasive Predator. It allows him to chop a card and together with Wasteland & Reaver and he gains money for them and get's card draw additional to the ability of Chop himself. He is part of the economy engine of Apex, as Aesop's Pawnshop is for Hayley Kaplan: Universal Scholar or Noise: Hacker Extraordinaire. On top of that he can remove Tags, so cards like Hard-Hitting News are not as awful as before as you will start with 3 Tags that need removal leaving one click when you have cleared the other 3.

Remember to keep one in hand, to install him after Apocalypse! To get the cards installed back into the heap. Also he works well with the conspiracy breakers (Paperclip, MKUltra and Black Orchestra), as you can install them with the Apex ability face down and chop them after, so they can be used in future runs and you don't have to overdraw. As well as Harbinger which can be used twice.

This can make an Apex deck with Faust really strong, as it enables additional card draw at the start of your turn.

Usually he will net you 2 - 3 extra triggers like:
1 card & 2 creds beside the Chop trigger.

I'd like to recommend the following deck, for the state of the Meta Start 2017: netrunnerdb.com

777
Nice update on the card, just one small additional note: The card doesn't have to be installed before Apex starts, since he can use his ID ability to install a card from grip at the start of his turn and instantly chop it in the same 'start of the turn' window, making the combo even easier to use. —
Is that true though? Start of turn isn't a window as such, and as the card was not installed when the turn switched over, would chopbot work? If it does it opens up lots of other OP combos in other decks. —
Yes you can do it. You can use your Apex ability to install a card and then chop it. You will need to have at least one card installed to make it work i assume. —