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1 energy per second is equivalent of 3 pips of energy degeneration.
With a base of at least 3 pips of energy regeneration, there is no net extra energy loss, but energy will not be regained while moving. Caster classes with 4 pips of Energy Regen will still slowly gain energy (at about 1 per 3 seconds) while moving.
With the long duration at high levels of Air Magic, this is an excellent running skill, but a Monk secondary profession will probably be needed for actual use as a runner.