Thats as adequate as the current available armors =3, so kinda lucky its a combination, eh?
HMP+2 to even with NQ Beak Necklace
CHR+3 to be on par with Star Neck/Flower/etc (though lower than Jailer Torques)
MND+4 ... I don't know what thats better than or worse than o.o;
Decent for say BST/Mage, who could use it for his Charm and HMP build =O! (if he doesn't have the CHR+5 Torque)