if you can attain enough defense outside of bulwark for crit immunity for tanking, it is a very nice item. nice armor and it has nice stats. although not a traditional tank item.
the only other real option in that quality range would be t4 or panzathar.
i am guessing you are not in kara yet or are progressing through it. after the autoblocker i picked up the shield and the ring, however, i have recently switched to the merc glad sheild cause of the armor so if you are taking that route you may wish to skip the shield depending.