Storm's Path is a tricky skill to utilize but its not one that should be ignored.
Before I get into the lengthy explanation I'll start with the short version. When using Storm's Path you want you ask yourself a progressive list of 2 questions:
1. Do I have a substantial amount of hate? If no, use Butcher's Block combo. If yes go on to question 2.
2. Am I going to use Inner Beast in the next 15 seconds? If yes, use Storm's Eye combo. If no, use Storm's Path.

Of course that is the overly simplified logic it. While the debuff from Storm's Eye is nice, if you're not using Inner Beast the extra damage it provides and the hate attached to it is not always needed and the little bit of health from Storm's Path will go further towards the goal of keeping you alive longer.

That logic though for an early warrior is at it's root flawed. Not to the point of being useless but you really have to consider when it is appropriate to use it and when not to. Honestly there really is not set in stone methodology behind its use and the best way to figure it out is through experience. How frequently you can use this skill and its effectiveness depend on the fight, your party, and your playing style. But generally I stand by a rule of 3, which is if you aren't going to commit to using it at least 3 times in 1 minute... then don't use it.

Now for some VERY amatuerish late night math while I get into the meat of it:
First off you have to look at it's effectiveness. Before looking at the amount you can heal for, lets look at how often you can use it. Now if you are at the beginning of your rotation you can get one every 7.5 seconds but since you're most likely going to be in the middle of battle when you use it, odds are you'll be at the end of your rotation so lets assume you can use SP every 10 seconds. That is 6 uses every minute. In those six uses lets say you average any where between 100-150hp return. That is 600-900hp a minute. Now realistically you are not going to pop off 6 SP's in a row. But this is where you start to see how this skill can add up over time.

The real utility comes later in the WAR's career. Once you start getting really good gear and start weening yourself off of Vit and start adding more to your offensive stats. There will come a point where you can get enough HP to reach the survivability threshold or maybe depending how good you AND your party is maybe even a little under it. Once you start hitting harder this move starts to get better, and that is where most WAR's come to a crossroads. To keep their bonus points invested into VIT or to invest them into STR for a high risk high reward type of play style. If you go with the second option this is where your use of this skill will pick up. You'll hit harder so you will be generating more hate, and you'll be using Inner Beast more often which will pile on more hate. And your Storm's Path has more room to operate in and it will 'fill in' for the max HP lost from taking your bonus points out of Vit.

Until then Storm's Path is not really NEEDED, but if you plan to be a balls to the wall kind of WAR it is still good to get in the practicing and finding out what kind of conditions you can fit it in to your play style and which you don't. But that is not that end of it though. Knowing when to use is the most important part. For example:

If you know your healer's cure heals you for 800 and you take 700 damage. Don't use it. If you know your healer cure II's hit you for 1200 and you take 1400. That is a good time to get in a use. (Another rule of thumb in this is to only really consider using it when you are at the 3/4's or 1/2 hp. But of course there are many times I'm getting Storms Eye ready so I can use Inner Beast only to be cure bombed back to near full HP and rather than ending with SE I just used SP to top myself off. And vice versely, there have been times I've overestimated my health reserves to have a hit take me down to the double digits and a well time SP was enough for me to survive the auto attacks that followed and be cured. But those are situational examples, most times I stick to my rule of thumb.)
Also if you want higher returns from your Blood Bath... that is a GREAT time to follow the rule of 3. It lasts 30 seconds. You can get 3 uses of SP in that time and double tip on that health recovery.
Also one exception to the rule of 3 is sneaking in a SP right after you use Inner Beast. Inner Beast generates a healthy amount of hate so you can get away with playing off for one rotation. But if you're not familiar with the hate management it is safest for your group if you have provoke slotted on your hotbar if you are going to experiment, lol.

There are lots of little niche places to fit Storm's Path into your rotation. Timed correctly it can be the different between your healer having to healing you once or having to hit you will another cure to buff you back into a safe zone. But the same reason I love WAR so much is the same reason I can't really give you any hard sealed advice. WAR is a very organic class, your play style not only has to adapt to the random ebbs and flows of battle but also with the random mannerisms and habits of your fellow party mates. When I play PLD I can pretty much get away with playing it relatively the same way for 80-90% of the groups I play with but when I play WAR my play style changes so drastically depending on the skill and preferences of the people I'm playing with.

And while it make not be the most impressive skill I can tell you this. If you learn to make the most of it, it will serve you well.