Am I mistaken....

[Deathsentry]

i was under the impression that if your merc has faith the only fanat bonus you recive is the dmg. or do they get the speed too?

[Evrae Altana]

You get all three bonuses, damage, AR, and speed. The only thing that's reduced is the damage bonus, which you can read in the skill description.

[RedGhost]

The bonus is much lower for the party than it is for the person equipping the item. If the faith is on your merc, you won't get the full bonus.

[Deathsentry]

Thanks for clearing that up yo.

[krischan]

The speed boost is more important, as it directly affects the weapon, improving the base speed (which is far better than just adding IAS). Its %ed is off-weapon %ed which most character have lots of anyway.