Couldn't you have read the details, once per 24 hours, and realized it was a waste of time from that alone :/ ... lol but hey, do they take the time of a 5th lvl summon to cast as well? I bet they're even more sucky than what's obvious.
Still, it's a sorta cool idea for a large guild to make a serious push once-a-day with faction-related monsters. Besides, if UO keeps patching, there won't be that many PvPers left since the majority of them are on "easy" street, cough.
And at 1 slot, you can make two daemons at once, right? I think dispel is fine. Maybe they shouldn't be dispellable by non-faction though.