One of the big downsides to the protection tree is that it offers pretty much zero single target damage. I think it's one of the issues that turns people off (well okay, in addition to raid needs and recruitment issues, but that's a different post). If you know how and where to do it, Protection offers by far the most efficient method of grinding. How? AoE farming.

Unless I made (another) error or typo, these calculations should be correct for patch 2.1. If you don't know what a Crushing Blow or the Attack Table is, you might want to read this guide. Recall that Dodge and Parry are avoidance stats, meaning that they allow you to avoid an attack completely. Block is a mitigation stat (you still recieve damage).