Haven't had a chance to play with it in weather yet, to see if it's any weather, or elemental specific to the avatar.
Rakshaka got the 3rd drop of the Neck, and he left abyssea a bit early to test it out. Despite assumptions of 1tp per tic, it appears to be 1tp per second, meaning 3tp per tick. Due to the time glitch, it came out to be either 2 or 3 per tick, but he said it came out to 60tp per minute. Either way, it replaces Smn Torque, and there wasn't really anything else to idle in, so it takes the cake. Idle in it for the TP, swap in Eidolon for the BP, and then back into it again. In reality it's a free 45TP bonus for every bloodpact, with a side of incentive to leave avatars out. Combined with the fact the new perp stuff makes Garuda Free, I'm liking it. Unfortunatly I'm finding Merit Pacts to be less desirable on Abyssea NM's. But we'll see.