You get a red 5,000 XP lamp, and Stankers (The Dwarf at Coal Trucks) will 'anoint' the headband thus letting you obtain 60 Flax a day, from Geoffrey. Also, when you cut maple Logs, you get 110 XP per log. And two normal logs for every one normal tree you cut, while wielding the Seer's Headband.

 

 

 

 

 

 

 

 

 

 

 

 

 

I hope this helps! ( feel free to edit pics as you see fit)

dude thanks this is awesome, especially the chat window stating the flax - nobody had the info!

 

 

 

added to the guide and to the items db, and credited you for both!