i like it. english doesn't have enough pronouns, and we're sorely lacking a distinction between 2nd person singular and plural. i personally prefer "youse", but y'all is good
In the country side in America at least y'all has been quite common for a long time and as a country dweller it's very odd to hear you all instead of y'all only really getting used by the wealthy
Unless you hate contractions. Then you better not say the words I'm, they're, we're, he's, won't, can't, shouldn't because those are all the same as saying y'all.