Infernal Healing is a spell that gives you Fast Healing 1 for 10 rounds, healing 10 HP of damage. It can also be used right before combat to auto-stabilize in case you get dropped. Some people claim that it's the most efficient healing in the game.
However, it has a material component: Unholy Water, which costs 25 gp per flask, and you need 1 flask per 1 casting of Infernal Healing.
A Wand of Cure Light Wounds costs 750 GP, or 15 GP per charge if you have to pay the full price. It heals 5.5 HP per charge, on average.
When making a Wand with a spell that has a material component, you have to provide it 50 times. In case of Infernal Healing, it's 50×25 gp, or just 25 gp per charge.
In short, it's about healing an average of 5.5 HP in one round for 15 gp (2.73 gp per 1 HP healed) or exactly 10 HP in 10 rounds for 40 gp (4 gp per 1 HP healed).
Is there any reason to take the slower option? What should be so "tempting" about the Wand of Infernal Healing so that it should justify slowly corruption your soul?
As for me, a Wand of Infernal Healing looks overpriced compared to a Wand of Cure Light Wounds.
Best Answer
The material component for infernal healing is "1 drop of devil blood or 1 dose of unholy water." I don't know why they designed it that way, but since a drop of devil blood doesn't have a listed price, it can be assumed to be in your spell component pouch (or ignored with Eschew Materials). Consequently, a wand of infernal healing costs the same amount as a wand of cure light wounds.
It heals slower than cure light wounds, but heals more per charge, making it the more efficient option for out-of-combat healing.