Using the Touch of Malice in the Iron Banner is probably not recommended... That being said... That is exactly what I did for a couple of games last week. I thought for sure that I'd be completely annihilated, but I had a couple of good matches with it. One my first venture out with it, we played on Memento. I managed to get a couple of kills and then got toasted by a grenade... Went on a 4 kill streak (playing back a little - not charging full force into the enemy) and ended up with a decent match... Kind of fun!
I used it when getting my scout kills towards the mointain top. I actually did fairly well with it, you just have to be careful. It's also disgusting if you run defender with blessing lol.