Ya, an elven wizard with trisword isn't going to be good, but if you're human berserker or rogue with the Glowing Guardian on the map, the trisword supplies power far exceeding its cost. Attack bonus% and +damage are always a good combo, the glowing guardian negates almost all the downsides of not having an inventory, in addition to amplifying the long-term effects of a powerful start (fighting higher level foes) -- this while already benefiting extra from having plus attack% (consecrate actually being able to kill things.)
So long as you can find the Glowing God, it is still extremely capable against physical resist bosses, just always leave fireball on the ground until you need it. You'll still enjoy the benefits of going into the boss fight 1 xp from level '9', with the benefits of transcending and humility and, likely, 80 to 100 piety in the bank. If you happened to take Taurog though...that's tougher.
For perspective, I also thing Taurog Orcish Berserkers or Rogues with conversion stones are sorta imba (though at least conversion stones don't hang around in your inventory.) Ditto GG Human Monks with any decent equip. It's tough and/or impossible to make specialized equipment that's appetizing mid-dungeon, with any race/class/god combo, but not overpowered to start with it with a specific race/class combo, taking advantage of the fact that you only have 4-5 gods in your pool. As a preparation for 40 gold its nasty stuff.