So my opinion on this is...

It can be nice to have - we've had a few instances where it saved some members and thus, a few wipes.

But the thing is... the cast time is too long, making even immediate reaction times not good enough, you have to predict whats going to happen some time before to efficiently save someone in most content.

One time, when SHB just came out so my healer (who I know) recently redid his bars. We were doing Innocence and he was doing the blades in the bow formation. I was MT so I was in a safe spot with everyone else in the safe spot behind him. The healer hit rescue, which scooped me up and I travelled from safe spot, across all the blades, and died as soon as I was next to him. And yea, it cased a wipe.

And in WoW, one tank fell into Lava, and he was slowly dying because... well ... it was lava. the pit has no way of getting back up, I directed him to where I had line of sight of him and was able to Leap of Faith him back to us, and healed him up. It has uses but its niche.

I propose:

No cast time, make it immediate
Speed up the actual rescue travel time
Make whoever you are rescuing immune to damage/ground effects for the duration
Make it so that you can't rescue people off of edges - make it so they either go where the healer currently is, or have them stop at the edge that they are at.
Increase the cooldown


Rather than outright removing the effect (however niche it may be) or removing the ability.