Think about it, a Blue Diamond cost around 1700pp, golden chitin bracer is like 1000pp, and a blue diamond bracelet cost 2000. Total adds up to 4700pp. I know that the resist isn't up to the blue diamond brcelet stat, but the hp on this bracelet makes it up. Remember, HP is king. And all those tradeskills you have to work on. Save yourself sometime and buy it.
...is the following. First, you need to make Infused Adamantite Rings. This is accomplished by combining in the Teir'Dal forge:
Velium Rings Large Brick of Enchanted Adamantite Celestial Temper Teir'Dal Smithy Hammer
You then take the infused adamantite ring, and combine it with the chainmail bracelet pattern, teir'dal smithy hammer, shadow temper, silk swatch, and the imbued sapphire. I havent made any of the chainmail, but I have made two pieces of the plate (submitted one to allakhazam the night I made it, it's not up yet...)
It's the imbued version of the high end DE cultural stuff. It seems that they are aiming the Velium Infused cultural armors to the 45+ crowd as resist gear for raids and such. With the AC and resists on all the pieces, it will more than make up for the lack of other stats.