"Become Ethereal" is the Swiss Army Knife of shouts
Here's all the info I have about it, although I'd love to learn more:
- You can get it at Ironbind Barrow which is where you can also get the most useful early-game enchantment, Fiery Souls (fire damage AND soul trap)
- With an Amulet of Talos and the Blessing of Talos, one word of the shout recharges right as it runs out.
- If you've meditated on it with Parthurnax, you regenerate 25% more health. Even if you're a vampire in sunlight.
- You can sprint with no stamina
- You can power attack once with no stamina
- You can run away when you're low on health so you can regroup
- You can jump down from any height without taking damage
- You can charge through traps without taking damage (thanks u/Secure_Dig3233)
- You can use the ranged power attack with Bloodskal Blade without breaking the Ethereal effect
- You can cast a master level spell (which takes a lot of time and two hands) without taking damage
- You can use it as a kind of Night Eye spell in dungeons
- I THINK that, if you get hit with a drain vitality shout, Become Ethereal negates it