It's a wonderful skill to keep up at all times. Severely reduces the physical damage the High Elf receives and can be modded to avoid detection by monsters, thus walking around them and picking them off at will. However, one should exercise serious caution against monsters and bosses with fire-based attack, as it will inflict additional damage because of the penalty that is coming with Cascading Shroud.
Pros and Cons
Great physical damage mitigation
Flexible - can be modded for evasion or further reduction of physical damage
Makes you hard to detect by monsters with the silver modification "inconspicuous", HE becomes fully invisible on 18 CA level
Can be used for a speed boost or to run away from a difficult situation with the proper mod
One should exercise extreme caution around monsters and bosses with fire-based attack