This is a pretty sweet shield, I must say. A guildmate of mine is currently working on this quest, I think all she has left to do is the Plane of Air trip. Once she gets it I'll post back here and let Y'all know how she likes it. It would be really cool if she's the first one on Torv to get it, but even if she's not she'll be high on the list.
also looks like a 1pt rune so basicly it's an 8pt regen as long as you don't get damaged. As long as it dosn't have any major stacking issues, that's really cool.
There's an issue about taking hits to the Plane of Sky faction for killing the Gale Weaver. No worries, this is now a thing of the past..Sony fixed this issue.
As for the effect, hey, its not going to replace regrowth, or, especially, Replenishment which I have become so fond of. However, when it comes down to being OOM, either in solo or group action, or want a pet that you're charm kiting with to have just a little more durablity, 8HP regen and 1 damage absorb really isn't going to change the world, but it'll give an edge.
Plus, hey, noobs love chrolo! Til ya get some AA points and focus behind it though, you're not going to be seeing your chrolo last beyond 15minute, while group chrolo lasts even less (10 minutes on the nose). Now, this is truly comparable to chrolo. Let's see: its only 8regen, as opposed to chrolo's 10, but, hey, who cares? If a noob would get hit, say, once every 3 seconds (A mob delay of 30, rather average), it'll give +2hp per tick (by preventing 2 damage every 6 seconds), leveling it with chrolo. Now, that's for noobs. If you're talking midranged, where mobs will most likely hit more often, due to decreased delays, double attacks, duel wields, and special melee hits (ie, kick, bash, monk moves, hit backs with rospont {yeah, I know, my spelling on that was horrid}, and so forth), they're bound to hit more than twice every 6 seconds, giving this spell edges on chrolo in both duration and effectiveness. During downtime, its going to be 2hp less per tick. Sorry, I believe its a good trade off, but its not unargueably better. Hopefully the extra damage saved from the fight will counteract or even out-act this effect.
In any case, right click it while standing still for 6 seconds, make a noob happy for 20 minutes.