You can't just whack a few dhamels and an air elemental and have everything you need because dhamels drop hides, not leather, so you need dark crystals, distilled water and tea leaves too, to turn the hides you get into leather.
In all honesty, this is probably one of the easiest leather items to craft if you feel like spending some time in Buburimu Penisula, or Tahrongi Canyon. All you'd have to do is whack a few dhalmels while waiting for Air weather, kill the Air Elemental and BOOM you'll have every item needed for this synth.
Note: I know... most people are really lazy and don't want to actually farm for their synth. materials.
Ok it's worth guild points, and is easy to make and cost efficent. Costs lezz to produce than any lizard gear, and works until level 22. So i can mass produce. Put on a mule, then I can rank in on points in a few days. =)