In my opinion it's great because it grants you decent defense for physicals, and status ailments. Plus it's lighter so you can dodge roll and be mobile in combat, I personally don't like heavy armor because you move really slow.
Well, the chest piece is better, because it's identical but with higher status resistance... which bothers me, because now my only excuse for not using it is that I like the way fluted armor looks more.
The other pieces all have less defense than the equivalent fluted pieces, however.
Okay, you got me, it offers 3 less base defense if you use the whole set(3.6 less slash protection). XD
Being able to avoid those damage types is probably worth more than the 3 points of defense, especially in the Valley where you want to be able to walk through the Poison Swamp or Plague Swamp for a few seconds without succumbing to the associated ailments.
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