I suppose this wouldn't be too bad a replacement for some Orc Fang Earrings... my 46 sk still wears a pair of those, lol. 10 mr for the same HP isn't bad. Or praps I'm just nuts, misinformed, have bad taste, or all of the above.
Perhaps the true power of this earring still lies dormant? I could see a quest existing to awaken it's power, but then again that wouldn't be very Verant of them, would it?