Itnt it t5?
Annyway, it has a use when using metalurgy and that TiC addon adding the metalurgy metals to TiC. With that, the max mining level is 7.
As far as without it, yes manananana is kinda pointless for tools. Cobalt is faster as a head material, ardite is better as a handle and paper is better at everything else. With Thaumcraft thaumium takes over from ardite as the tool handle (roughly same speed at all times instead of when low). For repair purposes steel is the easyest if you use a mod that has a way to make steel (or get chain armor from a mob farm). If you have IC2/TE3 you can just put an electric mod on it and not worry about durability at all.
For weapons manananana is usefull as the blade as it provides the most damage, but with thaumcraft id agrue that thaumium is once again better because of the extra mod, everything else on a weapon is paper annyway as a single moss ball keeps it from breaking at all times. Or, ofcourse, an electric mod