monk - str versus ac

[Varren]

I'm about to reach level 35 on my human monk, which is my main. I do quite a bit of soloing because of my play schedule, and am wondering how best to prioritize my equipment. I have been prioritizing ac over everything else except for my Peacebringer, and I can still come in at 13 stone with the weapon equipped. I'm saving up for an fbss, which I figure is the most important upgrade I can make, but in the meantime...

I've heard many times that ac is sorta screwy on this server, so I'm wondering whether I ought to swap out some slots for more strength. How much does strength really affect damage? How much does ac really affect monk mitigation/avoidance?

Another question... does anyone understand how mitigation/avoidance ac works differently for monks than other classes?

By the way, here is my equipment at the moment:

Ears - Forest Loop x 1
Fingers - Platinum Fire Wedding Ring x 2
Neck - Collar of Undead Protection
Head - Fine Silk Turban
Face - Targishin's Bone Mask
Chest - Foreman's Tunic
Arms - Azure Sleeves
Back - Cured Silk Cloak
Waist - Yellow Sash of Order
Shoulders - Cured Silk Mantle
Wrists - Symbol of Loyalty to Vox x 2
Legs - Drake-hide Leggings
Hands - Treant Fists
Feet - Cured Silk Sandals
Primary - Peacebringer
Secondary -
Range -

Thanks in advance for your input!