Min/Max Boards

I read pretty often that Chameleon is a great prestige class for the Factotum, but as a check around...I don't really see what makes it so great. I mean don't get me wrong. I love both, and I think that you can come up with something really awesome and flavorful if you played one. But it seems to me that if you were going to play a Factotum and go into any kind of prestige class it would be one to help you specialize, since you can already do pretty much everything. I don't quite see any real synergy between Factotum and Chameleon. It seems like they try to do the same thing, but in two different directions so they end up tripping over each other.

At this point I'm probably going to play one because I think its a neat idea, but I'm not convinced its optimal in any way. Anyone care to enlighten me?