This definitely looks like it could be useful, as it survives a ton of otherwise fatal attacks. However, I don't really see a reason to use it. Sure, it sets up field effects, but nothing really useful, like Trick Room or Tailwind. A dedicated support pokemon (Whimsicott, for example) would also be able to set up these effects, while much of what makes Metagross good (its incredible Attack) is removed with these EVs. True, it helps against Pokemon such as Latios or Snorlax, but the drop in Attack is really crucial. Earthquake can't KO Infernape or Chandelure in return, for example.
FATECRASHERS MADE MY AVATAR! Go look at more art!
Currently out, college apps are poison. C&Cers, contact me if you need any help with anything important. Sorry!