I'm going to compare her to two other runners. Geist saves you clicks by giving you free draw. Kate saves you money by lowering the install cost of hardware/programs. Khan gives you both. A clickless install with the cost lowered by one. Sounds great and indeed it is, warranting her lower influence. Let's talk about the limits on the ability though:
-It targets only icebreakers, not hardware, not even other programs.
-It only can be used once per turn. Of course it'd be nice if it wasn't restricted in this way, but it isn't too big a deal. You will only have so many icebreakers in your hand. You probably won't ever be using this ability on the corporations turn, unless they were to play An Offer You Can't Refuse and you take them up on it.
-You have to pass a piece of ice in order to use it. As icebreakers are what normally allow you to pass ICE this could be a bit of a problem early game. Of course some ICE doesn't end the run; you could run through a Pop-up Window and get the install after. I think a good choice would be to include three Inside Jobs to help you get set up early game. It's just a solid card anyway. Other choices would be Rigged Results and Femme.
Of course in order to justify using her as your ID (and accepting the lower influence), you'll want to make full use of it. Just using a standard three breaker suite is not going to be using her to her full potential. Here are the best options I can think of:
-The first thing I, and I'm sure most others, thought of was the criminal suite of “one-shot” breakers, Crowbar, Shiv, and Spike. Any of them would install for free and there are a lot of them. Once you have a few of these and some other icebreakers installed, they are super efficient, costing nothing to get through ICE. Because of this obvious synergy, I was surprised when I realized that Khan doesn't come with any link. This is an issue. You'll either need to include enough link cards to make sure you get the two required link early or enough extra memory. Going the link route, I think including three Rabbit Holes would be the only reliable way to go, maybe a Toolbox too. Otherwise you may find yourself unable to install your myriad of breakers. This will unfortunately eat up a chunk of your precious influence.
-Golden is her signature breaker and would be a good backup to your Shiv. Use Shiv for the small ones and Golden for the bigger ICE. If you have an abundance of money and you are facing an Archer or Janus 1.0, go ahead and use its powerful but costly derez ability, then immediately reinstall it for four creds. We will have to wait and see if they release a fracter and decoder of like kind. If so, they probably won't be any more cost effective than Golden. Criminals are after all known for their killers.
-Other potentially good breakers would be Chameleon or Brahman. You'll need most of your influence but it may be worth a try.
By way of conclusion: Khan is just super cool, I mean, she has a digital falcon on her arm.