When I was a kid I used to think it was a good joke to have this scary looking mysterious character turn up but when he finally speaks he sounds like mouse breaking wind, now it's like a warning of the sort of flight of fancy that would become Jar-Jar and the battledroids.
I suppose he was born out of the same background as Boba Fett (that Vader was at one point going to be a bounty hunter hired to track down the Rebels).
He looks a bit like some early drawings of what finally became Vader.