Ok, the -DEX is really unnerving at that lvl, but this piece is really a great addition to any DDs setup. The str provides just enough punch to make a diffrence, and the VIT gives you some more staying power. Offset the -DEX with a jack-o-lantern (which you should be using at low lvl anyways) and you have a nice start on a great DD build for 18-30 (depending on job.)
The STR is nice to have. You most likely will have other gear to make up for the -DEX so all-in-all this is a good piece for DD. I used it until Vanguard Belt.