I actually came on the forums to make this same exact thread just now. I totally agree, Presence of Mind has way too short of a duration to warrant it's 300 cooldown. I hardly ever use it. It's so short, that I've popped it before, just before I had to move out of a couple rings, and the duration was gone by the time I could cast again.

I was thinking that they should make this ability as a toggle ability, it quickens cast times, but it completely halts MP regeneration. Or something along those lines.