You do lose the STR and 5 Attack from RNG. I dont think Recycle should be considered as anything as a bonus, due to cost not being associated directly with damage output, at least for endgame situations. So the argument is really 10 Acc vs 2STR 5 Atk, an answer which will likely depend on your other gear.
Drops from Brooder (T2 AVNM in Abyssea - La Theine)
Great for all 3 jobs that can use it, <3 it for my THF. Only Ranged accuracy cape I believe THF can get besides Jaeger Mantle... which isn't easy to get.
Proc'in Recycle on a Ruszor/Dweomer Bullet is WIN in my book.
Doing the math: Scout's Beret+Libeccio Mantle+Entonis Trousers+5/5 Recycle Merits, would push you over 50% rate of Recycle. I don't know if the cap is 50%, but that would easily get you 50-60%, which has the feeling of proc'in a lil better than Joytoy did. :)
And really, given the fact you can get Atmas to compensate for your STR/Ratt, I don't think it matters missing the 2str/5ratt from Am+1.
I just wanted to add that this is the 2nd best RACC swap in piece you can get for landing bolts on Thf, and a hell of a lot easier to get than Jaeger Mantle these days. The RATK and Recycle are just some very nicely added perks :)