I'd say yes. If by Elite, you mean the Heroic Elite 516 Regail's you lose 470 of intellect due to the sha-touched gem, but you're gaining 1545 SP, which far outweighs that i believe. You'll gain some stats back through the inherent slot on the dagger as well.
Edit: I also was unaware of them removing the Valor and JP wipe on release. I guess you'll need to decide if there are better options for spending your valor once 5.2 goes live. I was looking at a pure weapon vs. weapon comparison
Edited by Cruzan, 13 February 2013 - 10:58 PM.