By the time i first noticed this on pandemonium, three had already sold for ~3 million.... i can see why though, it's the only earring that effects this sorta thing, and the "measly" +3 elemental magic would have HUGE impact on resistence at lower lvls since you would effectively be one lvl higher in skill. Plus, when wearing 2 you would almost never, if ever be resisted by xp mobs.
Personally haven't done any god fights yet, but they seem like they would be extremely useful there as well, since they are around 15 lvls higher than the blms.
Also, +3 will not help you always stick your stuff.. the AF hands add 15 to elemental magic.. shamans cloak adds 5, Aquilo's Staff adds 10.. yadda yadda