Come to think of it, Hand to Hand without equipment at level 10 is DMG 6 DELAY 36? Worse still at lower level. So this Bronze Ulak is a little better at DMG 5 DELAY 28.
From level 15, H2H becomes 7/36 which is better than this Ulak. In other words, up to level 14, Bronze Ulak is better than nothing if you are going to use Hand to Hand, then from 15, your bare hands are better than this crap Ulak.
As for pricing though, I think 5p is more than enough... or free, most likely. It's not THAT good heh.
Definitely a lowbie item.