I do not oppose this type of move. when desperate, you have to take shots when you can, and suited connectors are not bad at all. Let's look at a possible scenario: you steal from the button or cutoff with 8c7c and get called by two high cards or Ax:
http://twodimes.net/h/?z=238069
pokenum -h 8c 7c - as 4s
Holdem Hi: 1712304 enumerated boards
cards win %win lose %lose tie %tie EV
8c 7c 772055 45.09 932115 54.44 8134 0.48 0.453
As 4s 932115 54.44 772055 45.09 8134 0.48 0.547
http://twodimes.net/h/?z=238071
pokenum -h 8c 7c - ks td
Holdem Hi: 1712304 enumerated boards
cards win %win lose %lose tie %tie EV
8c 7c 697956 40.76 1004258 58.65 10090 0.59 0.411
Ks Td 1004258 58.65 697956 40.76 10090 0.59 0.589
Putting 8c7c against A4s and KTo in each case 8c7c is only a small or moderate dog, and the chance of stealing the blinds more than compensates for the % dog you are in cases when you are called.
al