Question about staff I bought.

I just recently bought this (purple) staff for 200gp: (some of the stats may be incorrect, this is from memory)

10-16 Cold Damage (requires +7 blood magic)
+5 energy
10% chance of fast casting

I'm only level 8, is it worth re-allocating my stat points so I have 7 points in Blood Magic to use this staff? If I have less than 7, how much does that effect the damage output? Also, I know I got a pretty good deal on it -- what could I resell it for?

Well the staff will work, as i an E/R have used staffs that require domination magic which i dont have, and the damage is more on the low side. Dont expect to hit 10-16, but more like 5-10 until you get your blood magic up.

The only thing you won't get with less that 7 Blood is the weapon's max damage. You'll get the Energy and fast cast percentile. So, if you don't need the damage, don't sweat it -- just use it now.