Show me a tank that can't hold aggro off the get-go with all their DPS bursting and I'll show you a tank who isn't using their cool-downs properly. 1/2 enmity is expected not including an off tank, 3/4 and it tends to be a gear issue.
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That would be the case then : D - all FATE mobs are immune, because you could walk up to a FATE boss, hit provoke when it has 1% health left, and get Gold because the award is based on enmity.
I believe healing is .5 Enmity per health healed. That would produce 4001 enmity points for the tank, in theory. Its a cool idea but kind of useless since it creates a risk, and if the tank gets the first touch on the target, no one should be able to keep up with 150E + 600E + 1080E in the first 3 GCDs. But it would work and it would be fun to mess around with, if you want to do something unique and fun : D
There has to be more to the Provoke mechanic than just that. It certainly has worked for me in party, running dungeons. But I've run into a half-done FATE, hit the boss, followed with Provoke and still had green aggro. I've just been shrugging it off because I don't really need it there but I seem to be falling outside the accepted mechanics of it's use.
Provoke is probably one of the most important skills you can have vs pug players.
In FATES, though it has been a long time since I ran them on my PLD, I always got full threat when using provoke on a mob. I did though provoke Odin one day where i came in late and only got yellow. My guess is there is a cap on the amount of threat you can actually gain from provoke.