Yeah, I use it all the time... As a door stop, a coaster, a fly swatter, etc.
Seriously, I do use the phone book every once in awhile to look up numbers. But the numbers for my friends / relatives I usually have stored on my cell, so I don't use it that much for residential look ups. I also like that our phone book has a street map of the city, which tends to be more detailed than maps of the state yet still covers more than just the downtown area that other city maps only cover, so its very helpful it finding where certain places are. They also have some other helpful information, esp. about government services such as library hours, post office locations and hours, etc.