I pronounce the name KAHT-leen, KAT-uh-leen and KAT-uh-lien. I prefer the three syllable pronuncations, particularly KAT-uh-leen.
I can see it being used today, but I think it'll be lumped in with the
Caitlin /
Katelyn / Kaetlin / Kaetelinne etc. group. :(