I thought the same, Strength is an avoidance stat to DK's as well as threat. Slamming three Strength/Stamina gems in there and you've got a very respectable weapon.
Better for DPS or Tanks? To be honest, I don't think there's a huge amount of difference either way. By the time you've got one you should be clearing ICC anyway. There's no progression past this as of yet, and I doubt it'll last as a useful weapon very long into Cataclysm. It's an E-Peen weapon, pure and simple.
And honestly? I think they made a mistake with it. They should have allowed you to forge between a choice of several weapons, one viable for each class. Its unfair to those who don't play either a healer or a plate class as it is now.
As an aside...Reigns of Sindragosa as a Legendary rare mount drop? :D
I can dream.
Actually it will be a very valuable progression weapon for hardmodes, you don't have to do any hardmodes to get it, you just have to do special things on normal fights. I think rough calculations are saying the first ones of these can be made mid February.
You get such pitiful avoidance returns from strength/forceful deflection that, yes, it truly is not worth considering. You're better off taking an agility 2h if you're looking to get avoidance. The max EH from the thing is barely superior to the heroic Ramaladni's culling, and as someone already noted, threat is just a non-issue these days. If it were, then yes you can make an argument, but who cares if OMG THE DK TANK DOES 1k MORE TPS! when in reality it's totally unnecessary. Justify it all you want, but it is far far far more wasted on a tank than a DPS.
And no, I'm not a bitter DK tank who isn't getting it, I could give it to myself if I wanted to - the point is it would be pretty selfish and foolish. I'm all for the guild offering legendaries to those who deserve them. I'm all for some personal responsibility in the DK tank realizing that it's not in their best interests to receive this item as well. You're going to be a lot better off using your saronite on badge gear/crafted pants as a tank.
Heroic ramaladni's will be better in terms of EH. 2 blue sockets, one yellow, and slightly more stam should make it more attractive.
Edit: totally didn't read the thread past the first page.