Originally Posted by Alrik Fassbauer 
Hm, personally, of course, I'd prefer the better armor … I think I did so in the game, too …
Because … I think I would regard an overall protection safer than an additional parry possibility … And I don't know whether parry can be cumulated.
With second level shield talent, you don't get an additional parry, but just get 2 added to your shield parry skill. Assuming your attackers' attack rating is about 10 and your shield parry rating is about 10, that gives you a 50% chance of being succesfully attacked, and a 50% chance of missing your parry. That comes to 25% for actually being hit. Now if your parry is 2 more because of shield II, attack chance remains the same, but missing your parry goes down by 10%. So chance to getting hit is .5*.4=20%. Only a 5% reduction. Seems barely worth it!