The slow isn't negated, he's either lying or doesn't know what he's talking about.
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Final Fantasy XI 12-14-11 Update wrote:
Adjust the resolution of menus. The main screen resolution for "FINAL FANTASY XI" is dependent on the "Overlay Graphics Resolution" setting. If the Overlay Graphics Resolution is set higher than the Menu Resolution, menus will be automatically resized.
Jesus, this whole gearset is IDEAL for thief with the correct equipment and equip macros...Haste gear for TP and this gear for Smacking on the big SA or TA would be absolutely INSANE.....********...Aren't the cursed materials and the abjurations for these wicked hard to obtain?
It's 14% of a slow effect on you, meaning you attack 14% slower. It's to balance the insane awesomeness of the other stats. That's why if you see someone wearing full Hecatomb gear, they almost always have a multi-hit weapon or two (i.e. Joyeuse, Ridill, or Kraken Club). It makes up for the slow.