Good to have one of these around when you're doing a lot of on-foot traveling. These don't recharge but they are dime a dozen if you need one; they are sold by sigil NPCs, thus requiring WotG expansion to get these.
Speed increase is very miniscule, somewhere lesser or equal to raptor mazurka, but lasts for a really long time. I had it on me for over 20min and the effect still didn't go away until I changed my job. Probably looking at 30min of baby mazurka.