Anytime I see a Pikachu or Raichu on a team, I'm definitely going to shy away from electric attacks until it's down, and opt for regular switching over Volt Switching. I think it's the same way with everyone else. In fact, Pikachu's vulnerable to getting Tricked by Rotom-Fan (or Air Slashed, as FLCL mentioned) when it brazenly comes in expecting a Tbolt or Volt Switch. Then it's a really weak revenge killer for the rest of the match.
In fact, Lightning Rod is like a monkey's paw for the poor guy. People start thinking he can switch into this or that and they're down a Pokemon.
Also, if it had 10 more base speed, I'd use it. Or when Light Ball takes on Eviolite-like properties in addition to the properties it already has. Or I'll just use Emolga.