For some reason, I don't believe that this item has an average price of 450. I've seen them on my server (Torv) going for 4k and up...maybe my server just has a funky economy.
You're thinking of the pre-nerf Circlet of Shadow(s?). When they nerfed the circlet they either added the "s" on "Shadow" or removed it; I can't recall which. :P
They nerfed it to add a casting time, so if you want the insta-cast version, you'll have to buy the pre-nerf circlet from a player.
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Gashie, The Ogre Knight Prexus, formerly of Terris Thule
If you sold your resist gear, your an idiot. I would much rather have that nuke bounce off me than have an extra 5 AC. Resists are just as much king. Once you get old enough for a real mob (Trak etc) You might understand when he throws out that AOE every 10 seconds and the tanks start dropping.
To any Shadowknights out there who actually DO tanking let me just say again that AC is GAWD!! stats are bunk by comparison. i sold all my str Magic resist gear etc etc. traded in for stuff with pure AC (for example sold the Gauntlets of potence and got Gauntlets of the Black ) and i noticed a HUGE difference. i can actually take a alot of hits from things in the planes and my offense is effected very little.
I would never use this item, I prefer my ice forged shackles or hero bracer, as far as the gather shadows I got the circlet of shadows and I dont have to wear that to gather shadows, this item is a waste you gain some ac but lose stats bad
I would think that the prudent thing to do would be to keep a couple of high AC pieces in with your stat-boosting armor, in the case that you, as an SK, were called upon to be the main tank. Of course, then you are lugging around many more pieces of armor, but if you are wearing Hero Bracers, I'm sure you can handle it. = P
Found one on the Spectral Harbringer, he is the placeholder for Emperor Chottal. Cons blue to level 54. Best to use a level 58+ to pull him from his room, or things can get ugly fast. He doesn't always drop this item, sometimes he drops absolutely nothing.