The MP Absorption rate is indeed horrible. But beyond that. The staff itself gives you 10 MP. Which is very good until the late 30's till 40's if you don't give a crap about HP modifiers. Definitely a good staff for SMN's and anyone who wants a lot of MP.
i got this farming in the burb peninsula east of tehrongi canyon (sorry about spelling i cant remember how there spelt) a monster dropped it in a permanent chest after about 2 hours of farming. the mp drain is awfull tho. im not sure how it work as im a blm/whm and every so often i hit something and drain 0 mp lol. iv hit mp drain about 30 times and allways got 0 mp draind. sorta a let down. is this a new staff then because i had never seen it before i found it in a chest.