Parry (and by the same math Block and Dodge) is important, not because of the DPS that's avoided, but the gambled chance you parry/block/dodge one of the Murder-Dead-Kill moves that you generally can't avoid. DPS is countered by healers and general mitigation (defense & damage reduction abilities), but the real beauty of parry/block/dodge comes in taking the edge off the hits that make healers freak out.
Since there's no +defense stat, and evasion-based gear was eviscerated, the only way to hedge our bets is +parry.
The shite-eating grin you have after you dodge two mountain busters in a row is priceless. Too bad everyone else winds up dying when something that glorious happens. I'll gladly take a parry though.