Alright, we're arguing about PMC. Here's the numbers. For sake of argument, a blue slot is a
[Sparkling Star of Elune], a red slot is
[Teardrop Living Ruby], and a yellow slot is a
[Luminous Noble Topaz]. Obviously epic gem replacements don't change much.
Assumptions:
500 spirit without the robe, belt, and shoulder slots (raid-buffed)
500 intellect without the same (raid-buffed)
[Primal Mooncloth Robe],
[Primal Mooncloth Belt], and
[Primal Mooncloth Shoulders]
Stamina: 0
Intellect: 62
Spirit: 62
Healing S&E: 312
Mp5: 25
+ set bonus gives 5% regeneration while casting.
+ 25 Healing S&E raid-buffed from spirit
Totals:
660 Mp5 OO5SR (overall)
247 Mp5 I5SR (overall, assuming no other Mp5 from other pieces of gear, 35%)
337 Healing S&E
[Gown of Spiritual Wonder],
[Belt of the Long Road], and
[Light-Mantle of the Incarnate]
Stamina: 72
Intellect: 87
Spirit: 123
Healing S&E: 296
Mp5: 0
+ 50 Healing S&E raid-buffed from spirit
Totals:
730 Mp5 OO5SR (overall)
219 Mp5 I5SR
346 Healing S&E
Assuming 25% OO5SR regen over the course of a typical fight, the regen numbers are:
PMC: 350 Mp5
Other: 347 Mp5
I'm willing to trade 3 Mp5 for 790 HP, 9 Healing S&E, and not looking like a January 2007 refugee.
If you assume access to Void Reaver (I mean, c'mon), then the numbers are skewed even closer to the side of the badge / crafted gear, since T4 shoulders are pretty bad. T5 push the numbers completely in favour, and access to something like
[Amice of Brilliant Light] destroys PMC.