I see this thing and never forge it because I don't understand what it actually does. Sure it's nice to be lucky, but how nice? Do you get to re-roll in combat or something?
Originally posted by DeathDaemon: 50% chance that a sucessful attack misses. Protects against melee/ranged attacks, whether or not they are physical/magical attacks or spells.
I don't think that it protects against spells, and if it does, then that is definetly a bug.