I found some more info on the item. It would appear to confirm that the nodrop tag was added when the ring was removed from the quest reward list for the Thex Mallet.
alt.games.everquest - Dec 07, 1999
Quote:
The ring is no longer being given out. The reaper is the only reward;
additionally, the rings that were already in the game have been made nodrop.
Sorry...
Brudo (E'ci)
Loredaeron (E'ci)
Sabbat <Sab...@spamblows.beer.com> wrote in message
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It looks like it could have disappeared as early as September 1999...but at that point it may have still been tradable - this person seems to have a pretty good handle on the quest and reward and I would think he would have mentioned it being changed to no drop.
alt.games.everquest Sept 4, 1999
Quote:
It has been confirmed by GMs that the quest which gives the ring is broken.
Apparently the thex mallet quest is supposed to yield the ring if your
faction is high enough, but it isn't working. Also, if you do manage to get
the ring (it has been randomly dropped in the past), the NPC that is
supposed to re-charge it will just take it from you and not give it back
this could be due to faction though).
It has also been said by one GM that the ring was in fact taken out of the
game. So, there is no telling whether the quest will ever be fixed or if
there will ever be any way for Sks to get the ring.
As to what it does, it is Dark Elf Shadowknight and Necro only, and it casts
bind affinity one time. It must be re-charged after each use.
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So at this point it looks like the ring
should have been on the server and non-nerfed (tradable) since day 1, and removed some 6 months before Kunark. However since it was just now added I guess you'll have some design decisions to make. Personally I think it should be tradeable for as long as you choose to keep it as a reward for the mallet turn-in, however long that is.
Still no conclusive evidence about whether it was usable by anyone from inventory or just DE SK's/Necros...