Personally, I like the sound of the name - however, the cultural associations are just too strong. No one wants to be associated with Herod the Great *or* Herod Antipater nowadays.
It has a nice meaning, but I would never name my son Herod because of its association with the Slaughter of the Innocents. Also, it doesn't seem like it would suit anyone under the age of 40. It's an adult name, not a whole-life name. That's want I think, anyway.