Unfortunately this may not be the best card to go for if you are a serious duelist or player, but might be worthwhile if you are an avid collector. At first it would appear that any card you have to special summon and/or require a sacrifice would be powerful. But the reality is that you could often end up sacrificing a much stronger card to get the Dark Magician Knight onto the field.
The Dark Magician Knight has attack power of 2500 and requires you to destroy a card to summon. But you need to have a Dark Magician in play, and this can often mean you sacrifice your Dark Magician to summon the knight! Effectively trading the cards and doing little else.
Personally, I don't see much of a reason to go out of your way for this card, nor do I see much more than a potential wasted card in your hand if you were to draw this one. So why does this card even exist? Even the strongest of players question the viability of such a lack luster card.
In the end I believe this is more of a collector piece because the usefulness of the card in real gameplay is so minor. But if you are a collector of all magician cards, then the Dark Magician Knight will be a must have for your complete deck. So avoid this card, if possible, when going into tournaments or even friendly duels. But definitely be on the look out for this card if you want to have a complete set of magician cards.
More useful and potentially powerful cards include the Chaos Magicians, the Dark Magician himself, and potentially even the Dark Magician Girl. Use care and think carefully if you consider using the Dark Magician Knight in your dueling deck.
 Yugioh DARK MAGICIAN KNIGHT ROD EN001 PARALLEL NM  US $4.90
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 Dark Magician Knight ROD EN001 Secret Rare US $4.49
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 Orica DMG DK10 Dark Magician Girl the Dragon Knight US $44.99
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 Yu Gi Oh Import Japan GB8 001 Dark Magicians Knight US $12.99
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 Yu Gi Oh Dark Magician Knight GB8 001 New JAPAN Import US $15.90
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 Dark Magician Knight Parallel ROD EN001 M NM Yu Gi Oh US $4.98
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