I had a well meaning, former military, boss give me one for free before I left for the PCT. I just thanked him politely. Mom gave me too many backhands for being ungrateful growing up. ;)
As with others, I just used it as an emergency/road trip bag stashed in my truck. Worked well for late night trail head truck bivies before starting a backpacking trip. (Hate to unpack my gear late at night just to pack it again in the morning!)
I ended up donating it to Goodwill after a gear purge, though. I also (finally!) got rid of my first 'real' backpacking sleeping bag: a Campmor 20F Holofill mummy bag. (egads!)
An older EMS -20F bag is now an emergency bag/road trip bag....
Personally, I like the idea of using the equipment for historical tributes. ;) Get some baggy wool pants, an old wool sweater and some wooden skis. Go for the 10th Mtn Division tribute! :)
FYI, a coolweb site if you want to see the history of military equipment: