I'm a little confused why people keep comparing this item to a Noc blade. I think at least 10 different people have done this so far. Killing Yelinak is an incredible feat and requires a strong guild with lots of peeps present. At the level required to get this item, you could easily get in a single group capable of getting a Sword of Pain (19/25 AC+10) or Ebon Mace (19/24). I would have thought people would be comparing it to these, if anything, rather than a Noc blade (18/26), which I consider to be only slightly better than a MoSS.
I agree with the poster that called this a utility item, useful in certain situations. One of those situations would be against PR/DR mobs, obviously.
Oh, and btw, thanks Verant for destroying the Ebon Mace. I've got fellow guild SKs scrambling to sell theirs while they can still get cash for them. 19/25 SoP with +10 AC (no-drop) or 19/24 Ebon Mace. Guess the one saving grace is that the Ebon Mace can be sold at all, making it valuable twink gear.