Actually...you can't place this in the same category as Elemental Torque or Uggalepih Pendant at all, since they are all used for completely different situations.
If I'm killing something for which my resist rate is virtually 0, I'm not going to use something that only increases my accuracy (Elemental Torque).
If I'm over 50% MP and I want to increase my damage, Uggalepih Pendant is worthless.
+3 INT is about the best you'll get for increasing your damage over 50% MP unless you have a Prudence Torque. So unless you have that or an Enlightened Chain you will want to hang onto one of these.
Not just for Elemental magic, this piece is good for any Intelligence-based enfeebles, to include Blind and Poison, in those instances where more Enfeebling skill just isn't going to do as much good as trying to boost potency.
If you don't have the gil or the manpower to grab an Uggalepeh Pendant, this is a very viable solution, and very cheap. Get an Ugg if you can, but this is a good replacement piece until you do.
