GER
 

How viable is this as a gear piece for Warriors? say... over a 5/55?

Also Monks?

Basically, I have one and dont know which toon to waste it on.

55hp > 5ac for tanking, but people have a tendency to prefer expensive equipment over better, cheaper equipment in this game.

I don't think at any point in EQ's 13 year history was 1 AC worth more than 10 HP (not counting shield AC)