this headgear is LV 55.. let me indicate some thing with a little example: w/o gear with HP bonus a elvaan warrior/ninja lv 55 (a lot of players with this setup) has HP=1076 ... then with a simple math calculation we have: HP = 1076 ---> 100% HP = 5 ---> 0.46% of 1076.... less of 1%!!!!!
i think this amount of HP (less of 1%) is totally insignificant !!! and attack + 3 and ranged attack + 2 is a good bonus for any LV 55 melee...
Then the argument of the HP lost is fake. Im wearing this headgear and im really satisfied.