I just put 10 points into this thing. I was all excited because I'm the packmule and builder of my group and was hoping to save both hotkey and inventory space (even if it only saves 1.40 weight).
I'm on a 3x server, and a steel pick grants 35 per hit on coal, stone, and ironstone. The steel axe similarly grants 35 on wood.
Steel pickaxe? 10. 10 coal, stone, ironstone, and wood per hit. This depletes the node at the same rate while simultaneously granting less profit than the steel pick and axe.
What gives? The entire point of this thing is for convenience and it isn't even convenient. Its yields are worthless and you're wasting 10 points on this thing for less results while saving like, what, 20 steel whenever you need to repair it? At the cost of ~28% less resources and more running around to get more of the nodes you need?
And you can't even get bark with it. From this alone it's not even worth the pickup, even if the numbers were the exact same.
Not a good item to pick up at all. I seriously think it needs a buff, if this isn't a bug anyway.