I think that alot of people underestimate the value of armor. For instance, when I load you into Rawr (latest rev), it shows the durable nerubhide cloak at 4644.94 overall points. Broken down, it's 2460.60 survival points, 1798.34 mitigation points, and 38 threat points. The cloak of armed strife is 4711.22 overall points. Broken down, it's 2366.81 survival points, 2010.98 mitigation points, and 33 threat points. It clearly wins in mitigation, but takes a (smaller) hit on survival.
Overall, they're about even, and it comes down to if you'd rather have hit or expertise. Technically, the cloak of armed strife as a tiny bit more bang for your buck, and it has a cool skull on it. I think the skull alone is worth like 50 stamina, but that's just me