The point of this is for crafting not fighting. A better mind & intelligence lessens your chance of failing the craft and increases your chance of making high quality items.
this thing is virtually pointless if u ask me, unless your a manic mage who is trying hard to be impossible to guage >.> lol
. . . me :P gonna keep the enchantment up during parties just for the extra 2 int on my lvl 20 blm and extra 2 mnd on my level 23 whm /edit bought it for 10k even though the average AH price was 30k.