Pretty good but not so useful for PvE. Knives are equally good for both PvP and PvE so the exotic should compliment both. Maybe a cool exotic effect would be "enemies are blinded for a short time when hit with throwing knife". Also your effects can already be chosen on skill screen. The exotics can give you that skill maybe? Along with the blind effect?
[b]Exotic hunter gauntlets[/b] - [i]Shock and Gnaw[/i]
"[i]this is your jungle and there's a lot of prey out there"[/i]
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I mean yeah the precision kill auto restores, but in matchmaking why not restore Melee energy with a knife kill? You wouldn't have to get head shots with knives :)