If you have a thug/SC with Awe and natural high defence already, then IMO the Chainmal of Displacement is a nice option (because Awe will reduce the number of attacks at the target, so you get very good use of the Defence skill). Of course it doesn't help a bit against mind hunts or attacks that have a MR check, but still
Check the Markata movies if you want to see where Chainmail of Displacement is good and where it is bad:
http://www.dom3minions.com/~jarkko/markata.wmv
http://www.dom3minions.com/~jarkko/markata2.wmv
http://www.dom3minions.com/~jarkko/markata3.wmv
Notice how Defence 24(+) together with Awe (and fear) means no attacks connect with the ape until blindness caused by the Eye Shield (Eye Shield requires a MR check from the attacker or they loose an eye) kills the poor bastard.