This is really an area specific build, so to say that better builds exist is generalizing. For the areas where this works, it is without a doubt one of the fastest options (such as trolls for power leveling).
Pretty good farming build but is only good against mele mobs. Depending on the mob, you may find it difficult to survive. It is just a matter of finding the right balance of skills, and how many enemies you pull.
Edit: Upping rating. I have played around with the build a lot and it is very versatile and effective and can be used to farm a lot of different areas. I think it definitely deserves a "great" rating. I don't agree with some of the other old ratings.