Your statement that your gear may be too low to see the benefit is entirely correct. My alt shaman in mostly 333 running heroics as the sole healer gets very little utility from TC, while my main in full raid epics with 25-man buffs can get very significant, necessary regeneration by squeezing LBs into lulls in the healing.
As far as Blizzard's stated intention in Beta for TC to be mana neutral, it seems to me that it is greatly overemphasized. Tier 11 content has been fully cleared on hard mode (albeit by vanishingly few people), and the major balancing patch in the near future has no changes which will affect TC. If in six months we are destined to go into 4.1 Firelands raiding with a nerfed TC, that's not really relevant to the current discussion except on a class design level outside the scope of this thread. Blizzard is clearly aware of how TC is being used, and it's a tricky talent to fully utilize that's not without significant costs to acquire.
The TC spec will remain situationally useful for awhile, a good off spec if nothing else. Any time you need to cc, interrupt, or if there is a good lull or dps gimmic you can take advantage off.
Thanks for testing, looks to me like the tsunami deck, and the jar will be the 2 bis then. We get our spirit to contribute to the raid and the throughput! Good to know.