I main SR. I've got three B... Z Bubbas, tank, brute and scrapper. Got a couple SR Sents. A few other SR meleers.
SR is freakishly awesome 95% of the time. After you softcap it. And the rest is Rularuu eyeballs and anything autohit. DAMN YOU, Romulus Autohit Fluffy!!! And leveling up. No fear protection, before softcap you get hit, get hit hard and you feel it.
It's definitely an end game set. Shield is far more forgiving and based on my experiences so far with my shield/em tank, it's just plain numerically a superior mitigation set.
But it ain't and never will be as sexy.
And, yea, you're right, the lack of a damage aura or any kind of damage buff other than quickness's +20% recharge is off-putting.