I've done some fiddling, and come up with the following.
One problem is that armor has diminishing returns. As you gain more armor, you have less damage resistance per 100 armor.
However, at the following benchmarks, 100 armor on an item reduces incoming damage by (this is the value for 110 armor, because of the talent):
12k: 0.4853%
13k: 0.4648%
14k: 0.4459%
15k: 0.4286%
16k: 0.4125%
17k: 0.3976%
18k: 0.3837%
Okay, so let's compare that with block value. Block value items get a 30% bonus from talents.
It's pretty easy. How much are you currently getting hit for (counting your current block value)? Now assume you have 100 block value on an item.
Formula: 1-Damage/(Damage-BV*1.3)
1k: 13%
2k: 6.5%
3k: 4.33%
4k: 3.25%
5k: 2.6%
6k: 2.17%
7k: 1.86%
8k: 1.63%
9k: 1.44%
10k: 1.3%
Now, compare the two percentages, and you have the relative value of BV and armor.
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