http://wiki.project1999.com/Magelo_Blue:Sakuragi is about as good as it gets without real raid gear. Specifically you might want a Cloak of Confusion (+15 STA is nice if you aren't a fatty, and the resists don't hurt) and if you buy a few dwarf heads you can get a Warlord hat/bracer without wrecking your fashion quest. The Avatar of War hat is great and tradeable but I guess it's 500k+.
I would not underestimate AC personally. I've done some parsing and as far I can tell, AC works and Sakuragi with ~1400 AC gets hit for max quite a bit less than a Coldain warrior with 1200 (say 25-30% max hits vs 35-40% max hits from Derakor). So personally I would rather have Cloak of Confusion + Skyshrine boots (42 AC, 19 STA, 70HP) vs a Hiero cloak + Barbed Boots (31 AC, 14 STA, 105 HP). I would guess the warrior ac softcap is at least 1500 displayed and probably with a high return.
All that being said, if I were you I'd go for a Bioluminescent Orb. It's disgusting how good that thing is in Halls of Testing. I had lots of arguments (once I feared one of Eashen's guards from the entrance into WTOV, heheh) but if you can convince your monk to pull mobs directly on top of you and maybe take one round of melee, it's amazing. Even just one instant proc basically makes Knights obsolete there.