The August Scepter is a scepter you can use to cast skills. There are 31 skills you can cast, one for each day of August, the month of my birth. Luckily, every single month has 31 skills, so this IOTM will be exceedingly useful for remembering which day of the month it is for every month of the year going forward. Big ups to Gregorian monks for prudently making every month the exact same number of days. (No, stop booing me, I'll never fact check myself on this one.)
The August Scepter is an offhand. The base enchants aren't particularly meaningful; it's equivalent to a Mr. A in raw stats (with +15), and otherwise sort of mid, with some HP/MP regen and a bit of spell and weapon damage. Realistically, you aren't going to be equipping the Scepter very much during your run. (Honestly, this is kind of a welcome change, I appreciate IOTMs that don't require me to constantly switch out my equipment!) The critical feature of this IOTM really comes in the skills. You can cast five skills a day, with each skill being limited to 1 cast a day.
Trying to summarize the entirety of the August Scepter's skill alignment would be... unwise, I think. It simply does too much random nonsense. When implementing it into TourGuide, I kind of mentally categorized it into 5 sets of skill outcomes:
For more details on the specific skills, highly recommend checking out the ASS spading spreadsheet used while the collective crew was figuring out what the heck the item did.
The scepter is a neat IOTM. It's deceptively simple -- while there are a ton of options, old hats know that there's almost always a handful of locked-in options that take up the majority of a tool's power budget. That holds true here. The most powerful thing in the Scepter are almost assuredly the waffles -- while they're ostensibly a food item, they're actually a combat-throwable version of the Replace Monster or Macrometeorite skills from past IOTMs. You can throw it at a given monster to change the monster into another of the monsters in your zone without spending a turn. Monster replacers like these are interesting -- they provide a nice view into why skilled players can get a little bit more out of a resource than one who is still learning to use their set.
Realistically, there are a lot of times in a run when you don't actually want to use a replacer, even if it could theoretically solve a problem for you. Let's say you're in the Palindome, you hit a Drab Bard, and you really want to hit a Bob Racecar to olfact it. There's some desire, potentially, to use a waffle; after all, it -could- turn into Bob Racecar or Racecar Bob. But if you haven't banished in the zone yet, the probabilities are more than a bit against you -- Tan Gnat, Taco Cat, Flock of Stab-Bats, and Evil Olive are all -also- eligible to be hit by the waffle. So you're looking at a 2/6 chance that re-rolling your monster actually helps you, so a 33% chance of saving 1 turn and a 66% chance of saving 0 turns. As the converse, let's say you're in a zone doing Yossarian's Gremlin sidequest, and you've already banished an A.M.C. Gremlin and a spider gremlin. You're looking for an erudite gremlin Over Where The Old Tires Are, but you get a bad break and hit the one that doesn't have Yossarian's tools. Never fear -- in that cases, a waffle is a flat 1 turn saved, because you hit a thing you didn't want and the only other option in the zone is a thing you DO want. Using waffles should always involve thinking about the eligible monsters in the zone, the likelihood that the waffle will give you the monster you want, and the likelihood that you won't have a better option later (or, for people who are hoarders, the likelihood you won't have any option later...)
Nevertheless. Waffles are powerful, that's the real crux of the story here. The summon skill gives you 3/day, which is (to a clever ascender) worth essentially 3 turns of value a day. Awesome! You have four other skills, and while there are some different strategies you can think through, some of the commonly used options include:
In low banish paths, you may also want the Lion's Roar banish to help round out your suite; if you can overlap it with Gremlins + Haunted Bedroom + Hidden City you can get some real value there. The 100% booze drop wine is similar to the food drop option, but has a small advantage in dropping two instances of the buff in two bottles of wine, letting you also hit something like Blackberries earlier in your run. Beyond that, if you get REALLY desperate, there's always a free fight! (Or, if you want to hurt yourself, you can get the Water Balloon buff for a smaller version of the +item/+meat effect.)
We'd rate the August Scepter as a tier 2 IOTM, though there's some flex around that. An average run will get at least 4-5 turns per day saved from the Scepter -- largely on the backs of Waffles + the meat/item option, but Offhand Remarkable can do some serious work too. Poor Waffle usage can detract from the Scepter's might, though this is certainly a skill you can get better at -- learn how to use your waffles wisely, and you'll be a dignified grandiose scepterian in no time flat.