Over powered beyond belief.

You need to look at it as a supplemental heal or a top off, because the skill is to be used as a Preemptive shield, not a post-Spike heal. You are always going to get the 500~ Heal from tossing it out all the time now, and your healers are permanently healing you for 5% more than before. It balances out much better in our favor this way.

PS. Paladins are equally if not more at the mercy of the healers gear than Warriors are. Only skill the says otherwise is Hallowed Ground.