Originally Posted by
Semaphore
That sounds very powerful at lower levels, though less so at endgame. Percentage buffs are generally stronger than fixed amount buffs at endgame, simply because the numbers you're dealing with are so much higher. Regeneration is useful, but not that useful, as most battles end so quickly once you get stronger. It's good to have some around for when you need to beat a reflect-heavy opponent, though.
How strong ~1500 defense is depends tremendously on how it stacks. It probably doesn't stack with any percentage bonuses that are built into your displayed defense number. But what about percentage bonuses that proc from skills, most notably Koyo Gunkan? Does it depend on the order in which the skills are applied?
It does look to me like it would be viable endgame gear, however, not something you want to discard as soon as you can.