I guess I will speak for winraf and IRON, since I tank next to him and have been at the events in which your talking about these screen shots.
1st off, the sheild is greater than a Terra Staff, I hate all the fucking gimps who say earth staff, go buy a fucking Terra Staff.
2nd We have been doing all kinds of nasty things to Winraf to test the sheild. During the Suzaku chainspell, we did stun. We just watched to see how the shield blocks. We understand how the magic defense work, were more concerned about the proc rate of the shield. We have full magic defense builds on our plds and war/whms, again we cant let winraf get hit with chainspelled magic, while testing out the proc rate.
3rd Winraf has a shield skill build. The only piece he could really improve on is wearing AF1+1 feet instead he just has AF1 Feet. He uses Kaiser Helm, has full merits, sheild torque etc.
4th, The mighty proc rate. Well like anything in FFXI, it is inconsitant. Like our shadow items, I have had my shadow mantle proc 3 times in a row, then not proc again for an entire fight. The shield does will block like 80% with exp mobs and the harder the HNM the less it procs. We have some test results like it blocking 10/20 Byakko attacks, where he took 100 damage from normal hits and 30 damage from the blocks. But yes does winraf still die, of course. At one Tiamat he just got pounded on the shield didnt go off.
I can say from our tests, and trust me, we arent trying to fool anyone, we wouldnt bullshit anyone, if it sucked than we wouldnt be looking to waste more LS resources on another one. Personally I feel the Horn is the best relic and the Sheild is a close second. Does the shield make a PLD invincible, no, but it does reduce a lot of damage making NMs we would normally use NINs for, now tankabe by a pld straight up.
If anyone has an serious questions, you can PM winraf at our forums at
http://www.ironmog.com, please do not ask him if he is getting excalibur, he really hates that question, cause the answer is no.