CORDIC is pretty obsolete, AFAIK. Its advantage is that its hardware requirements are absolutely tiny: two (?) accumulator registers, and hardware adders and shift-ers—I think that's all. No multiplication needed, in particular. Very convenient if you're building things from discrete transistors, like the some of those earlier scientific calculators!
(Also has a nice property, apparently, that CORDIC-like routines exist for a bunch of special functions and they're very similar to each other. Does anyone have a good resource for learning the details of those algorithms? They sound elegant).