I bought this lance for about 5k when I was level 60, thinking ahead. It's rarely up on the AH and when it is, it's snatched up. When it was 5k, I think people were buying it to NPC for a nice profit. Regardless, I've recently hit 70.
I went down into the necropolis to solo some Lichs just to be sure I could and that Donryu wouldn't steal hate. Turned out magnificently.
Out of curiosity, I invited a recently lvl70 MNK friend of mine down to see how much faster he could kill the lichs than me. We attacked basically simultaneously, but subbed WAR for the sake of expedience. Both had access to Zerk and Warcry before the fight. We killed the bones at roughly the same time, though his WS obviously did more dmg than mine.
The Bourdonasse is far from useless- at least at lvl70. The staff is nice if you REALLY NEED the MP you can generate via WS. If not, I'd go Bourdonasse for the sake of the additional skill in polearm, myself. But that's just me. I'm quite pleased with my purchase, given its usefulness and extreme cheapness.