Depending on just IR/PC for AoE is very unpredictable and can be less than satisfactory, especially since you state that you won't be very funded (I'd suggest at least 50k HP if you wish to completely depend on IR/PC for AoE damage at higher levels). The cooldown on these skills can hurt as well, especially in areas with a high mob density such as Fiesta zones.
I would highly suggest in investing at least some points in FH to help you out down the line eventually, trust me when I say that you'll want it. As for the new skill, I'm not completely sure on how the damage works. From what I've heard, it is only useful in areas that have a lot of enemies that are of the same type.