Deadeye chain

[Swivelable]

I assume that a bow is a missile weapon.

 

I don't understand how this chain balances out.

The +5 sharpsooter gives you a better chance to hit. but the bulky item then does -5 on your chance to hit.

In the end, are you any better off wearing this?

[Nioca]

First, Sharpshooter adds 5% chance to hit for each level. So it all balances out to +20% chance to hit.

 

Each level also adds a level of damage. So yes, you are much better off wearing this (unless, of course, you have a better necklace equipped).