i've had one of these for a long time, a friend recommeded it and its a good one so far, better for steel cyclone then raging rush, and the paralysis procs often enough to notice and works well.
STR + VIT as previously stated are 50% modifiers to Steel Cyclone.
Also The base damage isn't too shabby, not the best but not bad.
The paralysis effect procs fairly often.
All in all a great axe until you can get either Perdu, Byakko's, Berserkers or a trial of the magian one.
And for the 15k price tag on ifrit, definately worth it ^^