Yes, and cheaper. It even has a few additional benefits such as reducing damage taken from mobs with damage shields and less riposte damage (though mobs won't start riposting until level 30 or so). Wu's Trance Stick is hugely overrated, and is even kinda crappy until it starts proccing; its raw ratio is on par with the baton from Dalnir and the club from Kurns, and they're pretty low-level dungeons.
Wu's Quivering Staff is really pretty good and easily serves you until you can get a truly high-end weapon. I would suggest keeping it all the way until you can get a Peacebringer, because affording an RFS/IFS or T-staff in any kind of timely manner is unrealistic with your budget. Jade Mace and Knuckle Dusters are probably about on par with Peacebringer, but I never saw the appeal of dual-wielding when you have the option of using a two-hander. Dual-wield has no inherent advantages while two-handers do.
The only reason WQS is so cheap is because it was hugely overfarmed in the beginning of Kunark and isn't very hard to get, and because there's a handful of better monk 2hb on the market. It would probably be fairly expensive if it was a rare drop off a named mob that had to be camped rather than a trash drop from a zone you can level in from level 40 or something, and if there weren't the following better weapons: Staff of Battle, Peacebringer, Runed Fighters Staff, Imbued Fighters Staff and Tranquil Staff, none of which are no-drop. Kunark is a monk's wet dream.
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