The Gaurds have a very unique Greating for the Chosen of Namira.
I have a few characters that have done the questline and recieved the Ring, because I thought My Daedric Quest getter was beyond recovery.
Eola is actually a very competent Follower, but She requires completing the Quest in favor of Namira.
The Ring will boost total Health and greatly increase Health regeneration from feeding on recently living characters, the effect is temporary.
Killing the Namira Worshippers can deplete the Merchants in the Reach.
Honestly, I understand the feeling about doing this particular Quest, Peryites Quest is worse for Me because of how His Afflicted perform Ranged Attacks

, but the Reward for the Peryite Quest is Spellbreaker.