A nice quote courtesy of Paul T. McCain at CyberBrethren.com:
The Lutheran Church has never despised or even disregarded the traditions that have come down from the ancient fathers of the Church. What has been preserved by the teachings and doings of Christian men from the apostles’ time down to the present day is precious. The light which it gives in regard to the faith and the labors of love which the Holy Spirit wrought in other days, the lives which were rendered luminous by rays from heaven – as others were rendered dark by obscuring blackness from hell, in its rage against the Anointed of the Lord – the Church is not willing to forget. She desires to learn the lessons of history and rejoices in her fellowship with men of God who lived and suffered in the same glorious cause in which she is still engaged with the same assurance of faith which made believers strong in other days. But she knows that some professed to be Christians who were not such, and that Christians could err in the past as in the present, and therefore she applies to the Christians of other times the same unerring rule that she applies now, and holds fast as God’s truth only what is declared in God’s Word.
Matthias Loy, The Augsburg Confession, p. 179.
I would tend to agree with this assessment, judging the teachings of the Church Fathers to the Scriptures, not other Fathers, nor the Lutheran Confessional documents. While all is helpful, not everything is necessarily correct.