Patch 3.0.8 is out and the Great Armor Nerf was actually a huge buff. I never did the math ahead of time, but I'm baffled by the result.
My bear gear armor went from 33973 to 33640, or about 68.8% mitigation. Yeah, a tiny nerf, but considering I have 2850 armor coming from cloaks, jewelry, trinkets, and weapons that's way, way less than I feared.
The shocker is that in my cat gear, my bear armor went up from 23344 to 31904. Or 60.5% mitigation to 67.7%. I was expecting some buff to the cat suit, but that's just absurd. I'm not quite sure if the bear gear has any purpose anymore. It still has 5000 more HP and 1.2% more dodge, but the armor gap is negligible.
PS: I only have two points in Thick Hide.