I believe that's a perfect roll random loot weapon. In that any higher and it wouldn't be ML28 any more.
Okay in all seriousness before I vendor this (just kidding) does anyone have: A Heavy or Light Pick (prefer light pick, don't ask) or a Greatsword or Great Axe, or Dwarven Axe version of this they would like to trade? (and are on Thelanis?) I am all Sword and Boarded out right now as my last 3 Alts are all S&B