[betgo]

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Mike McD tells the judge in rounders to play these hands as well.

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OP is asking about hi/lo, whereas in Rounders it was just hi.

Personally I've always wondered about that advice as well. Instinctively its not something I'd want to play HU against a low. However in a loose game where I can get in for the bringin I will definitly play if my suit is live (no more than 1 showing)

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Some books say to fold this.

In a loose game, you probably can limp behind and fold 4th street if you don't improve. Depending on the situation, you may have to fold a draw later on, as you are usually playing for half the pot.

Otherwise, this is mostly useful as an ante stealing hand with deception in a tight game. You might open raise with an ace showing. If you don't take the pot immediately, you have deception. You could also open limp or open raise in late position, misrepresenting a big pair. A low may call and fold if it "catches bad."