I really don't know what else you would do with it. Rescue is an assist tool. It is there for a healer who is aware of mechanics to help out a player who is not. That is the intent behind the skill, and it is how it is most frequently used. Granted, it would be interesting to hear Yoshi's thoughts on the skill relative to the community feedback.

There could be some minor adjustments such as the cooldown duration, range, responsiveness etc. but none of those adjustments will change the dichotomy with this skill. A toggle feature mirrors the request to just delete the skill, as it becomes useless to the healer at that point.

A teleport is interesting, if it actually did that. In this case, a healer would be able to rescue a player through an obstacle that would otherwise also kill the player (AoE, a pit, etc.). What that boils down to is basically granting the player being rescued a brief moment of invincibility, and I'm not sure the devs would be willing to give that to a healer every two minutes.

So yeah; other than some fine-tuning, I wouldn't do anything with this skill.