I am giving this an 8. It isn't as bad as people put it.
1. For starters, look at Parasol of Unfortunate Demise. If your strength is higher than your defense, or even if they are even, ask yourself the following. "Do i want an additional 5 dark, and 5 physical defense for twice the price of the parasol". Also ask yourself, what do those 5 dark and 5 physical icons counter, will you run into them? and even if you do, look at my third point. This shield still loses to Sword of Skardsen even if you block it's 5 dark and physical.
2. I want to start out this point by saying shields these days cannot compete with offensive weapons. The only time a shield wins against an anagram sword, is if that 1/6 chance the anagram sword matches your shield, do you win head to head. Realistically, since there are no "Big Three" shields that block full air, fire, or earth, the chances are reduced further. Look at point three. Yes, compared to Hubrid Nox Memorial Shield, this drops 2 earth and water icons, and switches air for dark. People keep saying that because of Hanso Charisma Charm, this and Ghostkershield are obsolete. I completely disagree. For those of you who have to deal with anagram swords everyday, ask yourself, do you actually have the charisma charm in your set? if you do, how often do you actually use it. This armour to me is on par with the big three, and i shall thus name it the Big 4 from now on.
3. Here's the big point I want to share with everybody. The ONLY time, you can beat a Sword of Reif, Sword of Ari, Sword of Thare, Sword of White Lies or Ghostkersword with an item (going head to head) is when you reflect MORE than 50% of that icon back at your opponent. Keep in mind, even if you fully block/reflect 50% of Fire, earth, or air, the physical icons of these weapons still break go through and hit you thus, letting you take more damage than your opponent will. That is why shields just aren't up to par these days.
Because of my third point, one should realize that although this armour doesn't block air or fire, the only way blocking those two icons against an anagram sword are if you have a reflector, that reflects more damage then you would take. Therefore, what this shield lacks in air and fire, as all other hidden tower shields lack, anyone at all would have to supplement those holes with appropriate fire and air reflectors.
In conclusion, when going against anagram swords, I don't deem this better or worse than any of the other hidden tower shields. Simply, different.
Against intermediate weapons however, such as Wand Of Reality or Bow of Destiny, this shield is less likely to be considered.
Lastly, against anagram swords, 1 on 1, unless ftab blocks Sword of Tawre/Kelpbeards Trident, unless gshield/hcc goes up against Sword of Skardsen, and unless this armour, or HNMS goes up against Sword of Thigl, all these shields cannot compete in today's battledome due to the guessing game.
All of my above points are based on scenarios of fair battles. The league system has attempted to let defense be on par with offense but hasn't quite cut it.