This weapon is...well...sad. With the amount of effort you would have to put into getting this item, and the level you would have to be, it just plain sucks.
The weapons ratio is 2.5 just for comparison a Polished Steel Ulak (a much easier to obtain weapon, with comparable stats) has a ratio or 2.7 if I remember correctly. Now, I didn't include damage bonus since it varies depending on what level the person using it is, and I didn't include the fire damage, because it's inconsequential, considering the fact that it can be resisted and at the level you would be able to obtain this weapon most mobs will resist this added fire damage.
You can get a PSU at level 30 in Dawnshroud Peaks, or just buy one in the Bazaar for about 20-40pp. To get this weapon you must be about level 55+ with a raid force of other people 55+, and it will take you hours, in which time you are not assured that you will actually get this weapon.
Now, I'm going to make another assumption, but I would guess that most Beastlords and Monks of appropriate level to obtain this weapon will already have thier epics, or better. Now who in thier right mind would trade thier epic (a vastly better weapon) for a weapon of this quality? No one.
There is a serious lack of Hand to Hand weapons in this game for Monks and Beastlords that are obtainable without being either insanely lucky or very dedicated (read: sup3r ub3r). If you compare mid-level H2H weapons (especially Luclin Weapons)you will notice that they have something in common. Almost all of them have the same ratio as the Polished Steel Ulak, or very close. So, other than trading one for another due to stats (which are minor) there are few resonably obtainable H2H weapons for the average mid-level player.