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.