Yes, you can have 5 skills, you are guaranteed to get 1, there is a 3 all skills roll on amulets, and you can get 1 more from oil of luck. Also hitting decent random mods is a bit more difficult since as any other crafted item, it comes with 4 random affixes (in addition to the 2 guaranteed mods) and not 6 like rare amulets. I have hit flat dmg with all stats and phys res which was good enough for me.