Without any points in spirit but a lot of +mana on the gear I found, I had about 300 mana, and since thousand cuts costs 242 for rank one...
Maybe I could see it being useful if you had points in spirit and mana effeciency, but otherwise it's not worth it having to chug a mana potion every 15 seconds.
But then again I'm a newb and only went through the game just once. Just what I think.
I have to admit, once I was around level 30 and felt comfortable spending a point on it (I had about a million unused points) and enough mana to use it, I really enjoyed TC and found it very useful, especially in boss fights. Was it necessary? Not really, but it was fun and powerful, and combined with Mana Leech, mana was not an issue. I'd recommend getting it a little later in the game, probably earlier than I did though, maybe level 20 or so.