This is really a very good investment. This thing has better HP and about the same AC as old necklaces that used to cost like 3k.
The slot 3 type lets this badboy become a haste item, a regen item, a FT item, see invis, ultravision... basically anything!! Its either this or saving up 1100+ for a slightly better version, oh well whatever you want to do with your points. =)