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Full: Resurrect target party member. Target party member is returned to life with 25% Health and zero Energy, and is teleported to your current location. All of target's skills are disabled for 10...4...3 seconds. This spell consumes all of your remaining Energy.
Concise: Resurrects target party member (25% Health, 0 Energy). Teleports target to you. Disables target's skills (10...4...3 seconds). You lose all Energy.
The teleportation effect allows downed allies to be pulled out of monster aggro fairly easily, making Rebirth a powerful tool for recovering from near-wipes in PvE. This makes it a good skill for ranged characters such as rangers and elementalists, who are often far enough from the center of battle to run away when monsters overwhelm a group.
The energy-drain effect of this spell makes it undesirable in the heat of battle. Signet healing and focus-swapping can be used to offset this penalty somewhat, but, in general, since the caster will be out of energy and the raised ally will have his skills disabled for a few seconds, Rebirth is seldom used for PvP. Other resurrection skills, such as Resurrection Chant and Flesh of My Flesh, are much more useful for resurrecting a single target in combat.
There is a slight delay between the completion of casting and the teleportation of the target. During that delay, you can move to another location. For example, you can run backwards to create more distance between you and any foes guarding the corpse you are resurrecting. The party member will be teleported to your new location rather than where you cast the spell. If Rebirth and another resurrection spell are timed properly, the effects of both spells will take place.
Recent updates have caused minor issues with this skill and sometimes the resurrection part of the spell will occur before the teleportation part causing the aggro to be pulled towards the caster. This can cause mission fails if there was a near party wipe, due to the fact that this skill upon completion removes all energy of the caster and disables the resurrected allies skills there is next to no chance of keeping yourself alive or fighting back if the aggro is pulled.