Azura's Star is the best Daedric Quest reward, imho.
For my mystic archer, this is certainly the case. In fact it is the only pre-enchanted item in the game that earns a spot in her inventory. Any other enchanted items she carries or uses were crafted by her.
She finds other pre-enchanted items (regardless of their source) either don't suit her purpose (Hatred's Soul, Skeleton Key for example) or are overpowered (such as a Mundane Ring or The Gray Aegis).
As glargg says though, it all depends on the character. :dance: