well this is on a word ref site
It is still occasionally used (although perhaps with some affectation), and I'd say probably more so in northern England.
He's a rum bugger is a similar expression, and means that he's a strange or difficult person.
BUT we tend to say it meaning cheeky little devil really! Up to no good
Prob keep volo, DH loves it (obviously it's small and takes up little room!) I shall see how we go