Oh and to top it off, Jindo just dropped this:
http://wow.allakhazam.com/db/item.html?witem=19885
And I say "now THAT'S a healer item" and she's all "oh I know...." real guilty-like.
Even more not happy.

Well, if you ignore the +spell hit the necklace is still pretty nice for healers. It has more intellect than any other BoP necklace in the game. Granted you could get tooth of gnarr, but I know my priest and shaman like stamina when the group sucks.

unless you already have +17% to hit with spells* then +1% hit is always better for a warlock than +1% crit, even if you have ruin! with ruin, +1% hit and +1% crit are equivalent damage-wise on spells that can crit, but warlocks have many useful spells that cannot crit but can be resisted. if you have ruin you want to get more crits, but +crit isn't the only thing that gives you more crits. the less an enemy resists, the more chances you have to get crits.

ruin gives you bigger crits, so lots of people think that spell crits are very important. however, ruin is actually responsible for very little of your damage. if you have a 12% crit rate, against a boss about 10% of your shadowbolts will crit. those shadowbolts will do 33% more damage than the SBs of a non-ruin warlock, resulting in an increase of 10% * 33%, or 3.3% damage. the talent for improved curse of agony is laughed at because it only increases the damage done by 6%, but ruin is praised for increasing your damage by 3.3%.

compare ruin to bane, which lowers the cast time of shadowbolt from 3 seconds to 2.5 seconds. that means you can cast 20% more shadowbolts in the same amount of time. it doesn't make your crits any bigger, but it increases your damage by 20%. it can be counter-intuitive, but sometimes the best talents for damage really have nothing to do with damage at all. similiarly, you might think that +crit gear is doing wonders for your damage, but other stats are better.

* bosses generally have a 17% chance to completely resist damage spells. trash mobs only have a 4-6% chance.

Id take this over my cainwyn im thinking for the % to crit alone its an uber neclace.