You cannot Normal Summon or Set the turn you activate this effect
In my humble opinion, however, the best strategy is to hold it between your thumb and middle finger of whichever hand isnt dominant, parallel to the battlefield, with the bottom of the Chaos Orb closest to you (so the card would appear untapped from your perspective)
Legend of Blue Eyes White Dragon, often abbreviated to LOB, is one of Yu-Gi-Oh!s most sought-after sets
I can see taking it out, and I'm not opposed to that whatsoever, but it's a card that doesn't hurt your deck at all
The catch is that exile replaces the graveyard afterward, so timing matters
Also one more note while the main value of this card is as a whale of chase if this card is also legal for competitive play (and I dont see why it wouldnt be) it could be a very, very strong attacker