There are only a few situations in which I can really see this polearm being useful... Excavation Duty or some other wallbashfest with a haste build mostly. I guess DRG/DNC could be very limitedly useful like if you're soloing in some area with a bunch of arcana that don't agg except to magic (I can't think of such a spot) or maybe soloing something that can do more than a 600-700 spike damage attack.
Other than that, I think this is gonna be a toy for Hundred Lances. I'd get one just to have it but I'd never ever exp with it.
tp spam for drg huh, guess it'll be good skillups on WAR. Only WS that will not be hurt by its low damage are Thunder Thrust and Raiden Thrust. I assume both suck.