I thought that Bautista was the breakout performance in Guardians of the Galaxy, even more so than Chris Pratt, who nailed it himself. Sure, he was physically intimidating (the man is HUGE!), but he displayed some real acting chops, especially in his deadpan humor.
That said, I think his performance in Riddick is probably a better indicator of where he would go as a Bond henchman, and he was memorable in that movie, too.
I agree with those who were hoping for a more unique henchman, but Bautista certainly brings a lot of menace and an imposing physical presence to the role, if it is indeed confirmed as true.
At the very least he will be an enormous improvement over Elvis in QoS!
I've seen all of his films, and he's come a long way, and I agree with you saying he was the breakout performance in Guardians Of The Galaxy. He nailed it!