Most Plane weapon drops just don't cut it with the new weapon drops. This would've been okay a few years ago but with all the nice weapons from Kunark/Velious/Luclin, most bards 46+ would just keep this in the bank.
Not quite as good a ratio as the Dawnchaser, but if you're a Piercing Bard, putting those two together would be a pretty nice combo until you land something you consider more powerful.... 'Course, if you already have better, then it don't matter so much, does it? *shrug* Life's all a Game, so why get mad about the game we play within the Game? :)