I really like it! I've always liked the Augusty names, but it ranked behind Augustine, Augustus, and Augustin. But now I'd put it right up there with Augustine and Augustus, both which I love a lot. Becuase I stopped thinking of it as a month name and started thinking of it as a word name. And the word august is an appealing word.
I've never heard of anyone named August, but I do know of a baby Augustine (squee). It definitely seems like the types of names that could rise in popularity, but I don't think August would ever get common enough that it would be a "concern."