I used the necklace in partnership with an enchanter to fear kite (keeping him and his charmed pet healed)...its as useful as you want to make it. Feel free to get in line at the well trodden XP zones if you want to stick to the meta.
I think the snare is only 6 ticks and does have a 6-8 second cast time, so positioning and awareness are important when fear kiting with it.
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