By the time I was level 50, this item would be nice, but something like an Argent Protector was much more valuable to me. As it was, by the time I hit 54, I was epic.
This item, dropping from a level 58 mob, is nice for those that can't do big raids and are limited to the group raid of 3-6 people. Beyond that, it ain't really so special for the effort.