if your a blue and not shooting for an MP build or healing (god forbid a blue should have to) this peice is very nice the stats can help round out your melee stats, and it is very ecomical. also the cloak look for all those out there who want to be cool is a definet plus.
now for red, you should really stay away from this peice, while the +int is nice you would do better with extra mp. also it's not worth it as a farming peice because really that little str won't give you much, as it would a blue who can add up tons of dex and str at that lvl.