I've got about 4-5 nice QR code brandables, but it seems as though QR was a massive thing about 2 years ago when it was new and there was hype surrounding its potential. At the moment it's simply not understood by mass market audiences to be taken entirely seriously as a viable marketing tool. In the UK particularly it doesn't seem to have taken off with any real vigour.
Until companies put a lot more effort into explaining what QR is to your average non techy consumer, consumers aren't going to 'get it', and until money is pumped into properly advertising it, forget about any hype returning. Also the applications it has been put to so far haven't entirely made QR intuitive to use. It may definitely pick up as the application/use side of it undergoes more iterations, and teething problems are overcome (perhaps a new mobile OS version release by Andriod or iOS integrates QR reader apps in its core?), so its worth holding and doing something with.
Till then I personally think this is a good one for development if you can find some sort of differential. Not great for resale given it's closed off all its target markets apart from the UK.