Not even close to the magic defense of a leatherbody. Inb4 comment on how it gives magic defense and is a shield (It's not a practical item at all) It doesn't give - melee penalties. Plus, if you wanted magic defence and already had a body and legs, it's the best option. By body and legs I assume you mean platearmor, in which case you're doing it wrong anyways already. Most people use primal 2hs because OMFG 200M DUNGERS DO IT IT MUST BE THE BEST WEAPON and the -7 attack effects dps by maybe 1% and offers incredible defense. The guardian's ward requires people to use battleaxe (OMFG NO SLASH BONUS). In short, guardian's ward is, under no circumstances, better than any other bind.