not too bad to use, but as for trading...you'll probably get offers from people only looking to salvage it (offers probably like 5-15k)
since the 5/1 vamp is a good mod
and the 5 defense grip isn't too bad itself
but there is always the chance you might get steel or iron
if it were me i'd salvage
PC on Vampiric Hammer of Defense
Judas Paladin