Most useful to Paladins, Ninjas and thieves when trying to lower the recast of shadows. (And to a lesser extent, flash) For other jobs which don't typically do endgame tanking this is more of a luxury item than the end-all-be-all of belts.
As was mentioned before, Ninurta's sash is better, but that requires defeating Absolute Virtue. Good luck with that. Black belt and even brown belt are better, but comparing them is pointless as monks can't equip speed belt, and no one else can equip the monk belts.
Finally if you are looking to buy/sell one of these, use the Bazaar/Wanted links below the item's information. It will show up when others look at this page.
This belt has risen from the dead to suit it's new role in the synthesis of the Phos Belt (which requires the Sonic Belt) which has 7% haste and 8% haste on the HQ.
Price for this will probably drop, with the advent of the bullwhip belt and more shells taking out AV. Some downsides to Bullwhip for tanks but it offers 7% haste.
With the new May 2011 7% belt out this will soon drop under 2 Million ~ Too many options out there now, aka; Twilight, Bullwhip and now Accursed Belt... Sad for people who were trying to sell this at 20+ Million in April and now have to settle for 2 or less ~
very outdated item now,lots of better haste belts than this one and they are easier to get as well, such as Phasmida Belt, ninurta sash (is easy to get one now specially when you have 459839 mules shouting/selling @ pj,) goading belt, twilight belt, and bullwhip belt, don't waste your time camping this.