Can a hobbit wiled a weapon of Nazgul safely?

[sffp]

So my CL 8 hobbit picks up a sling (x2) (+15,+11) (?)

and I'm excited as it's my first real find of the game (my only other magic are some pebbles(+3,+5) and a sling (+4,+4)

I quickly try it on
You have learned the Rune of See Invisible<Yay!>
You sense the Sling is draining you life
You have learned the Rune of Experience Drain <Not so Yay!>
You have a Sling of the Nazgul...

But I'm a hobbit, I have hold life as an innate skill.
Would that over ride the experience drain?
Or would it be sporadic and occasionally drain and thus not worth using?

[Pete Mack]

You are GTG, except possibly while resting/running :/

[Sky]

eh, the drain is there, it's smaller than without Hold Life, but it will still happen. And, at shallow depths, the mobs are not worth much XP.

I would say, sell the sling, and keep going without it. You will easily find a sling of power that is better than that.