Commemoratives shoot just as good as any other winchester lever... Some are real nice, and some are a bit over the top but all are definitely shootable.
Personally I won't pay extra for one because its a commemorative, but I also am not buying collector pieces either. I like to shoot my guns.
The shiny finish and gold filled lettering will make anyone think twice about taking one to the woods. The Winchester collector society lists 148 commemoratives as rifle and carbine sets, rifle only, US-list, not advertised in the US, Europe only, private issue, auction only, and other access exceptions. Running the published numbers WRA made over 1-million of them, and the original price was as low as $99. The John Wayne set listed originally at $12k, but without the five figure examples, the average list price was a profitable $1200.
Playing with Excel, the least "valuable" ie. largest number issued for the lowest retail price are:
Year Model features 1 features 2 Scheduled Produced Orig Price
1968 Buffalo Bill * rifle and carbine 122,169 112,923 $129.95
1966 Centennial ’66 * rifle and carbine 102,666 102,309 $125.00
1967 Canadian ’67 Centennial * rifle and carbine 97,395 90,301 $125.00
1969 Golden Spike 73,619 69,996 $119.95
1969 Theodore Roosevelt * rifle and carbine 56,060 52,386 $134.95
1970 Lone Star 55,259 38,385 $140.00
1971 NRA Musket & Rifle 58,927 44,000 $149.95
1968 Illinois Sesquicentennial 39,699 37,648 $110.00
1970 Cowboy 28,904 27,549 $125.00
This of course doesn't show the Blue Book valuations, and markets are irrational for all kinds of reasons.