At a glance, a maximum of +3 health regeneration doesn't sound like a lot, but consider that this effect affects all allies within range. That includes non-party-members such as allied NPCs, minions, and animal companions.
At 12 Restoration Magic, Recuperation grants +3 health regeneration for 39 seconds, which is a maximum of 234 points of healing per affected ally. With few allies, it is on par with some Monk healing spells if calculating healing per energy spent.