It is a 3% heal when I used it last (over 1 year ago) before I decided it was a useless form.
In the current state I typically run 3 different setups for my pet.
Air base per with fire form. This is for max pet melee against high fire resist mobs.
Fire base pet with air form. This is to maximize spell dps.
Air base pet with water form. I use this on high ae fights to try and help smoothe out heals for the group healer. The heals are melee proc so the innate haste of air form is ideal.
As far as tanking and dps of the pets:
Tanking and mitigation is just laughable. They hAve 0 mitigation.
I think the word of power tomes help bring them into focus on where they probably should be, but a bump in overall dps would probably be a good think maybe 25-40 dps base across the board on r2 maybe a bit more should not break anything and bring things back in order and help with scaling.
Ya, I know the mitigation of the pets is non existent. What I thought was more interesting is that the relic pet actually prevents incoming damage more than the the earth and fire form of the r2. The main reason the water and air form have lower dmg received is due to the slow, and the stun. If the mob is is stunned, for a few seconds he is not dealing damage. As with the R2, it seems like a lot of the base stats are very similar to the relic pet, just it has 50 % more hp. But, the main thing they nerfed on the r2 pet appeared to be the hp from the original incarnation. I did not have r2 back in the initial, but I am told the hp was very high. Then when they fixed that error in the pet's hp, I know my pet lost 1k (relic at the time). IIRC, Ginger said her pet lost near 2 k. (R2).
I have been thinking about this some more:
What I would want to see, is the r2 pet melees just a little bit harder. Like you suggested Moraelin 25-40 dps just something incrementally more than the relic pet. A bit more hp hp, just so it falls closer to the power jump from level 63 to relic, because hp is basically the metric on how well the pet can tank. Lastly, if any dev is interested, a discussion about the different forms of the r2 pet. It is a shame the earth one is useless. It would be nice if the forms were more deviated from each other. As for the earth pet, if the rates that the pet dodges, parries, and riptose were upped by a couple percentage points each. It would greatly increase his tanking capabilities, but he is the least dps of all 4 pets.