First, good thread topic Sabertooth, I like the angle and it has spurred some good discussion.
I've been a Robinson fan in the past-had him at least 3 times though of course not last year

I agree with Sabertooth that he has talent and injuries have slowed him in the past as much as anything. I always think in terms of value relative to ADP so let's look at where he is going (FFCalculator, 12 team redraft non PPR)
12.04, WR 53. That sounds low, but let's look at the WRs going around him
Santana Moss, Brian Quick, Michael Floyd, Vincent Brown, Brandon LaFell, Kendall Wright,
Robinson, Ocho, D. Baldwin, Manningham, Alshon Jeffrey, Amendola
Again, non PPR because I'm old (school) and that's what I do.
I personally would draft Quick, V. Brown, Ocho and Baldwin before Robinson, *maybe* LaFell & Wright too. Also Collie who is going later and you can say is in nearly the same situation. Someone had a really good point in that if you're looking for a solid pick Robinson is a good choice, but if you're looking for upside you may want to go another way.
Having said all of that, I'd be fine with Robinson as a WR5 though I'd prefer the guys I listed. I'm sure everyone's thoughts on that group of WRs will be different from mine.