Naturally, a lot depends upon what you call "relic hunting," but so far as I am concerned and for my hunting needs, it definitely qualifies!
We don't get the huge amounts of large bullets like those 'back east' who get to work the Civil War sites, or the same types of 'relics' that us 'westerners' read about. Things like the US & CS belt buckles and such. However, we most definitely have our applications for some "relic hunting" to include a lot of ghost towns, railroad camps/towns, lumber/logging camps, mining camps, military & pioneer encampments, homesteads, and of course any site used for recreational gatherings in the mid-to-late 1800's and early 1900's.
The X-Terra 50 is now a definite part of my personal battery because I like it's feel and balance, the way it handles, the 18-segment discrimination with quick-access All Metal (Zero Disc. motion mode), and the very good depth and general performance.
For hunting more open areas it is doing quite well, but many of the sites I choose to hunt are brushy, trashy and/or have building rubble. For them I rely on one or more of my other 3 detectors, the IDX Pro w/4", my XL Pro w/6