I don't think Steve-O is anything like Andy Kauffman. Steve-O has no comedic value at all except for when he's beating the shit out of himself or snorting spices. That was one of the most embaressing moments on TV i've ever seen.

Does it make Steve-O any cooler or funnier? No. Does it further his reputation as a complete lunatic? Yes. To be honest it'll probably do his failing career a bit of good, but he'll never be anything more than that nutter on TV who hurts himself and acts like a twat.

Edit: He doesn't even look drunk. He sounds and acts semi-retarded. Does alcohol actually effect some people in that way? I've never seen anything like it...