Its sad because up until he was played in LCS he was considered by many as a troll pick to the point where I actually had people threaten to report me for picking him. I endured constant flaming amongst players asking why would I pick him and saying he was "not meta." Then in a space of a week or two he suddenly became "OP" and achieved permaban status in NA in Gold/Platinum.
The main problem I have playing with him is how to distribute my ability points. In previous seasons I would put 2 points in W so that with smite I could clear camps on my way to gank lanes. Now that ganking is a lot more difficult I max W so I at least can have a strong point in being able to duel the other jungler should I get invaded or run into him in the river. This leaves my ganks sorely lacking, I doubt a 1.25 second taunt lasts longer than something like a Jarvan knockup, combined with Q it gives a decent window to burst down somebody but due to the nature of Q I may not actually hit anyone with it unless I flash on top of them, even with something like 1000 games of experience playing Rammus its far too inconsistent considering there are other champions like Maokai and Pantheon with a point-and-click combined hard CC/gap closer in one ability.
Putting extra points in Q early is just not viable at all, last time I checked Rammus has disgustingly low base HP for a tank. If you don't put points in W you will most likely die before you can even run a full combo with the full duration of your ult. One thing to consider about Rammus is that since he does not have an actual gap closer, most likely he will be hit by a number of abilities and auto attacks before he even gets in range to use any of his abilities. So his job in team fights is more or less to commit suicide by flash Qing into an enemy carry, and then praying that your bonus armor/MR ate enough of the enemy team's abilities for the 4 other members of your team to clean up after you are dead. If you're against a team with champs that can slow you and chunk at you from range such as Lissandra/Lulu/Morgana etc this simply does not happen, once you are in range to actually use your E you will already be dead from eating a ton of magic damage that you could not mitigate with your W because you needed to stay in Q to close the distance.
While Rammus is still a good pick vs Yi, I would much rather play Jax. A good Yi will just stay in his jungle and outfarm Rammus by a mile, and if in any case the Yi doesn't get taunted and die i.e. the Rammus had to taunt Irelia because she jumped on Jinx the Yi will just clean up. Once Yi is ahead of Rammus in both kills and farm he can just buy a QSS or something and then easily murder Rammus once his W falls off. Jungle Jax can pressure Yi at jungle objectives at all levels and can easily outduel him - I once 1on1ed a fullbuild mid Yi as top Jax with only 4 completed items. Pretty much any time that Jax presses Q onto Yi, Yi has to flash and/or pop his ult or he will die, plain and simple. Yi can easily juke Rammus' powerball with his Q and avoid falling in taunt range, its not so simple to evade a 40% CDR Jax with a Trinity Force that has a gap closer on less than a 4 second CD and can evade autos for 2 seconds then stun for 1 second every 5.2 seconds.