This is the classic carabiner design and Black Diamond has been making them for as long as anyone. The oval design is tried and true and it's just kinda cool to have a few of these old school carabiners lying around. But they are mainly better as decoration. They rarely perform better than a more modern design. Their design is from the 50's and so much is now better, lighter and lower bulk. The Black Diamond Oval Wire is a lighter alternative. Overall, we like to keep a few ovals around, but generally use lighter biners for most applications. If on the other hand, you like the beefy solid gate design, consider the Petzl Djinn Straight Gate, which is lighter than the Oval, but stronger and still very easy to handle.
BD recalled this and some other carabiners. Please read over this safety recall notice to determine your next step.