You should be able to MT fine wont be the easiest MT on the block but doable.
My only real concern would be threat generation given your average weapon if you had serious DPS in raid. Run H-UtP and see if you can get RSOC but I am sure others have tanked thru with that weapon.
Drop the stupid parry gem in the chest (def/dodge is better if you need colour) although personally I would put a +20def on shield and gem straight 24 stam in that slot and ignore colour. You need to work on your sons of hodir rep for a proper shoulder chant.
As for Hit like you I wouldn't bother with it unless raid was riding butt on threat and in your case there as so many easier options to generate more threat (like better weapon and gear you could buy on AH) waste of time at current level IMO. Things like Armor Plated Combat Shotgun - Item - World of Warcraft, Inexorable Sabatons - Item - World of Warcraft, Titanium Earthguard Ring - Item - World of Warcraft all major upgrades for you if you have the cash.
** Remember Warcraft players fail in directions you never thought possible.