I picked one up for my SK and so far its a good weapon for him. sure there better out there but for what this weapon offers its a nice axe to start off with till you get more better gear later on in life, I could see using this axe till your 50 or even a bit higher.
Not a terribly bad weapon, just picked one up today and will be handing it off to another Warrior in the guild.
The best aspect of these new, revamped Nurgan weapons is that they aren't the best out there, but they work very well for the mid range players in guilds who may not have access to the best 'twinking gear'. As they are Lore but not No Drop, they serve very well to equip folks who might not otherwise have access to easy upgrades.