They're great for acting as bodyguards when you go to possibly dangerous areas, and for hunting since their spit slows animals down. Once I had 2 of mine attack a Carno while I shot at it, both survived and killed the carno.
For an egg farm, you need one male and as many female as you can afford, make wooden ramp and have them follow you into them and punch into position. Put them on passive. The eggs will roll down for an easy pick up.
They make a distinct aggro sound when they lock onto you, keep this in mind when one is nearby. They are easily outrun and with very little practice you can avoid their arcing acid attack. Spears/arrows to he head are very effective