Just a little nitpicking here. It's -3 enmity instead of 2.
Rumour has it that the rope drops off one of the newly added level 60 cap, 60 Beastmen's Seals, 3-member, 15-minute time limit BCNMs. I have not personally seen any proof, but it appears to be logical.
It is indeed a very impressive rope, especially for Taru BLMs, who, prior to the patch, had very limited choices in belt equipment (Arachne Obi for +2 INT [+3 for HQ] or Steppe Rope for +30 MP). It is debatable whether the 1 more point of INT and -3 enmity on the Penitent's Rope is more useful than the MP bonuses that each of the non-Taru lv70 RSE ropes gives. Regardless, it is still a very decent piece of equipment, particular on HNM/god fights where hate becomes an issue.
I bought one of these from the AH (on Quetz) for 1.5 million. But considering the number that has been put up on sale (4 as of time of writing), I would not be surprised to see a fall in the value of this item.
