I just gave it the ultimate test. I went out into the desert on a level 8 character with 28ac and no buffs. What I saw pretty much proved a theory I had about it. It seems to work well against monsters of your level or below. A cr8 firebrand gnoll missed me half a dozen times, but a cr10 eternal hunter never missed. Anyway, if anyone would like to do some more testing that would be great, but basically it seems like it will probably have some use depending on the level of quest you're running in comparison to the level of your character.