Definitely. This is better than a cured silk sash. Arguably, it's better than a wu's sash too; +1STR and +5HP is better than +2AGI. Or at least it's as good, which automatically makes it beter, since it's cheaper to acquire. This almost makes it work camping that stupid escaped froglok 6 times. And I agree, it's the only piece of sparring gear that makes this quest worth it.