Yes, but it's that good otherwise. Remember if you get a good mana leech weapon mana shouldn't be too much of a problem.
You could always try Voice of the Fallen King. Had a friend that had it but swapped to the Jackal's Collar when he got one.
Here's a few items that can really make an archer or any dexer much more effective;
Jackal's Collar- Great dex bonus for any dexer
Ring of Vile- More Dex + 15 HCI
Hunters Headdress- Still more Dex and +15 HCI. Really only for Archers
Spirit of the Totem- +20 strength and 15 HCI. Good for all dexers.
Mace and Shield Glasses- good resist and HLD.
Stormgrips- Best gloves for any dexer. (IMHO)
Gauntlets of Nobility- Not quite as good as Stormgrips but they still spawn in Doom
Voice of the Fallen King- Strength, HPR, Stamina regen, & medable