I thought it was cool. I don't think the legends were any real kind of draw though. If I'm not mistaken, Bischoff said they stopped doing it because it got to be too much of a hassle.

The Tully Blanchard vs. Terry Funk match at Slamboree '94 was the best legends match among all of them.

In 1993 and 1994 it seemed really interesting with all of the legends in attendance and they would do the little introduction ceremony as part of the pay per view. I found it strange that in 1995 they only featured the 6 "Hall of Fame" members as the legends in attendance and Dick Murdoch, who had a  legends match with Hall of Fame inductee Wahoo McDaniel. In 1996 when they started hyping Slamboree I kept waiting to hear who the legends would be in attendance, and who would be in the Hall of Fame. Unfortunately by then, they had dropped the whole legends reunion theme, and it was just another monthly pay per view......Too bad, as it really had a distinctive appeal to it and stood out among the endless string of ppv shows back in those days.

I remember when the Tully vs Funk match was announced in 1994 I was really excited at the prospects of that match. However, it was not as good as expected. Years later I have heard a lot of stories of major disagreements and heat between all parties involved with that match.
 
Bockwinkel vs Funk was really good in 1993. The crowd reaction for the guys was really heartfelt. On color commentary Larry Zbyszko openly called out to "give them 5 more minutes" when the time limit expired.

I remember Regal having a classic match on Slamboree as well.  I liked the pay per view.