There isn't a black and white answer to "threat or survivability". You will have to find the happy medium for yourself.
I know that I am day or so behind on the Hit discussion, but, I picked up the noose and bloodfall last night in our 25 man run. I was just plugging along putting in my gems and enchants when I realized my hit was now 5% (previous gear had me at close to 10). Our dps hits very hard and pulls a ton of aggro, but the discussion in gchat was about, do I want another 2-3% hit or do I want to stack pure stam. I put hit/stam gems in slots where I picked up stam bonuses so I lost a total of 24 stam to get hit rating up to (and its still not the cap) 6.8%.
I'm asking the brains better than mine, to help me justify one way or the other. I can't seem to wrap my mind around dropping so much hit for that amount of stam. o.O Keep hit/stam gems or go back pure stam? Brainblocked, I have it.