The spell isnt totally useless, but without any type of magic debuff before you attempt to land charm it rarely seems to last close to full duration.
I rarely use this spell anymore unless I have an enchanter handy to tash it beforehand. If you have an enchanter in your group its golden (preferably with howl of tashan)
I also have a 65 Druid bot that I 2-box with, and there is a spell called "Glamour of Tunare" which is negative (20) to Magic resist.
Crypt of Decay is a great zone to use this in, I pull a death knight, mez it with death' silence (30 sec) ensnare it on the druid (lasts 14 min) then debuff its MR with the druid and charm
After landing that, charm seems to last full duration, with minimal early breaks or resists (basically how it acted before the charm nerf)
Its sorta sad that Necro's are the only pet/charm class that do not have anyway to debuff magic resist.