So much outdated and inaccurate information in this thread... The defensive reduction formula looks like rawdmg*(1-0.0001725*defense) Source. With base i240 defense on tank of 2236, with protect you go up to 2571, and with foresight up to 3085. 1000 raw damage (how much you'd take naked with no cds), will hit a tank with protect for ~556.5 damage, while protect+foresight would be ~467.8. That's a 16% damage reduction. If we assume the defense values will scale the same way they have for the last 40 ilvls, at 270 foresight will be approximately 17%.
edit: The 5-7% values were based off 3.0 launch gear of i160-180, where defense values were much lower.
edit 2: fixed fomula, had a + instead of the appropriate *

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