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This is an enchantment, so it is strongly advised to use a weapon that lengthens enchantment duration by 20% to increase its efficiency.
If you're playing as a supporter for your party, don't forget to bring a self heal with you and tell the monks not to heal you if not absolutely necessary. Otherwise they will waste half of the energy gained from Blood is Power on healing your sacrifice costs.
Blood is Power is one of the fastest ways to kill yourself; this aspect of the skill is often used by a necromancer to produce bodies for a minion master to raise an undead army. This is usually combined with a mesmer using maximum levels of fast casting and normal resurrection skills (such as Restore Life).
Blood is Power rounds life loss. This means that a caster with a maximum of 1 health will not actually sacrifice any life when casting Blood is Power.