Takes 15 minutes to "come up" after you mem it and then recast time is 15 minutes. I guess there is the occasional fight so important that you'd wait that long in preparation. And with 12 spell slots available one might be able to keep it memmed until needed. But given that mitigating 16,200 of damage, in fights that are level-appropriate for this spell, is just not all that valuable, I doubt this spell is worth using.
The only saving grace is at this level 3 ticks is MORE than enough time to incur 16,200 points of melee damage. LOL
Edited, Jun 14th 2013 9:03am by Sippin