so... levitate has always just been more of a luxary skill, not really useful, unless you accidentally dismount in the air, or jump of a cliff, or some other random situations... it is fun to use every once in awhile, or needing to travel over waters, etc... So far the best use i had with levitate used to just be jumping into un'goro, but recently in Shadowmoon Valley i made the most use of that skill.
The quest that has you go around and kill like 4 different mobs in a suggested party of 5 (sorry i dont remember the quest name). well, when you have to go to the netherwing edge and fight that huge dragon, most people have to fly to the top of the mountain and kite him down. well, i was lazy, and decided to try something... get high enough, even a little bit higher than the height that the dragon pats around, when he gets under you, dismount, DOT him, and spam the levitate button. voila. parachute kite him down :D. i got levitate off a split second before i went splat, we killed him, and completed the quest. it was awesome ;)