Especially one ring since favor and protection is basically one ringing but artificially having higher SL with points in Endurance and Vitality. You could farm up those stats then "one ring" with the same difficulty as having the other on.
Think not that we are beaten. Think not we are restrained. We stand, unflinching witness, defiant now, Unchained. ~To Strive To Seek To Find And Not To Yield~