D&Dtools1

Like the 3rd-level arcane spell blink, you flicker back and forth between the Material and Ethereal planes.
However, you are capable of controlling the timing of your blinks and therefore make better use of them.
Blinking by means of this spell has several effects: Physical attacks against you have a 50% miss chance, and the Blind-Fight feat doesn't help the attacker.
If the attack is capable of striking invisible or incorporeal creatures, the miss chance is only 20%.
An attacker who can both see and strike ethereal creatures takes no penalty.
You have no chance of interfering with your own attacks.
Individually targeted spells have a 50% chance to fail against you while blinking, unless your attacker can target invisible, ethereal creatures.
You have no chance of interfering with your own spells.
You take only half damage from area attacks (or full damage from those that extend onto the Ethereal Plane).
While blinking, you strike as an invisible creature (+2 bonus on attack rolls), denying your target any Dexterity bonus to AC.
You take only half damage from falling, since you are subject to gravity only while you are on the Material Plane.
You can ready an action to blink away from a specific enemy attack, physical or magical.
If you do so, the attack misses automatically unless it can
also affect ethereal targets.
You move at three-quarters speed, since movement on the Ethereal Plane is at half speed and you spend about half your time there and half your time material.
While blinking, you can step through (but not see through) solid objects.
You do not risk materializing inside a solid object unless you actually end your move inside one, in which case you materialize and are shunted off to the nearest open space.
You take 1d6 points of damage per 5 feet traveled in this manner.
Since you spend about half your time on the Ethereal Plane, you can see and even attack ethereal creatures.
You interact with ethereal creatures in roughly the same way you interact with material ones (their attacks have a 50% miss chance against you, and so on).