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Keep in mind, you're not sacrificing 25% dodge/parry for your block value. Armory and Stamina still hold king but there is a definite point where it is worth losing 3-4% dodge/parry for +300-400 block value. By your logic on a creature that hits for 10,000 every 1% of dodge = 100 damage so you would easily break even on any creature that melees in the game losing 1% for +100. That is not even including the increase in threat, increased rage intake due to not avoiding, and less spikey mitigation.
Course I'm only talking about situations where you are still sitting at a comfortable 20+% dodge and 17+% parry. Before you have a comfortable amount of health/armor/dodge/parry I wouldn't even look at it. Early dungeon sets can give you that magical 600 shield block value at the cost of almost 2k max health, loads of armor, and low avoidance. Once you get up to later Tier 4 and Early Tier 5 you become able to add block value in addition to what you already have without giving anything else up.
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