It is my opinion that giving up deflection is just giving up too much avoidance unless T5 is your thing and your block value is through the roof.
I'm also of the opinion that anyone who doesn't spec precision doesn't MT enough to appreciate the struggle of DPS opening up right away after your Avenger's Shield misses.
Also, mobility is situationally very helpful to being a good tank.
And therefore... Deflection, Precision, or the new PoJ. I definitely want to set myself on a 0/46/15. I haven't had reckoning for ages, and I don't miss it either... But dropping precision when i can STILL go to start VR, or Doomwalker, or Doomlord Kazzak, and have the shield miss on what seems to be approx 1/5 tries? It just doesn't seem like a smart thing to do given those experiences, and yet the majority of posters in this thread seem to be supporters of the "drop precision bandwagon." How often are you guys MT'ing and such? Avenger's shield hitting is often so vital (Leotheras comes to mind)... shouldn't we be doing everything in our power to make sure it does?
Respec costs incoming, what else can I say? (just spent 2000g on [Belt of the Guardian] and NOW they bring out that badge belt? *grumble*grumble*)
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http://armory.worldofwarcraft.com/#character-sheet.xml?r=Stormscale&n=Maulininis
Shut up and get behind me.... Sir.