At Level 50, as a Samurai you get the Store TP III job trait. With that trait and this piece of equipment you have enough Store TP to get 100% in 7 hits and still macro in different leg gear for WS. This makes this piece very nice for TPing in, especially since there isnt too much else to put in your leg slot.
Actually, Nepharite... TP % per hit is based on the delay of the weapon you're using. So Store TP +45 is only valid for people using a 450 dly weapon which yields 11.5% tp per hit.
Let's say for example that you're only using Great Katanas as Samurai.
You have several delays for Great Katanas. Below are the common delays with the Store TP required to hit a 6-hit 100% TP for WS.
378 dly 9.8% Store TP +71
399 dly 10.2% Store TP +64
407 dly 10.4% Store TP +61
414 dly 10.6% Store TP +58
420 dly 10.7% Store TP +56
428 dly 10.9% Store TP +54
437 dly 11.1% Store TP +51
450 dly 11.5% Store TP +45
463 dly 12.1% Store TP +38
So your Store TP +46 setup is really only valid for a 450 dly weapon.
At level 50 you can gain Store TP +47 w/o a Corsair and an additional +14 to +50 from a Corsair in your party. If you do have a Corsair in the party, that gives you a total of 55 to 91 at level 50 w/o food. That allows any delay GK to get a 6-hit WS.
I guess i'll throw my opinion into the ring, so IN MY OPINION, this can work, at level 50 there isn't that many great options for either body or legs, the big issue with this 6 hit build is it requires food which becomes problematic when you're exping on colibri all the time.
So don't feel pressurised to seek the 6 hit, after all, you achieve a 7 hit with just the Rajas Ring (assuming a 450 delay GKT) and in the end you're gonna stop using a 6 hit at 59 anyway.