For those advocating DEF stacking for anything but trash mobs (ie, not any bosses) please have a read:
http://kanican.livejournal.com/55915.html
Note particularly the amount of DEF required to make much of a dent in the amount of damage mitigated on a Lv58 mob such as Ifrit (afaik - and please correct me if I'm wrong - most bosses are around Lv58). I haven't seen anything to suggest that this has changed either, it's long but it's a good read. If you want to skim just read the bolded purple and red text and you'll get the gist of the information.
Essentially the issue is DEF increases its utility the closer it gets to the cap for that particular dLVL. This means that it's also
less effective when it's further from its cap. Adding a 10DEF when it's far from the cap will do very little to mitigate damage, while adding 10DEF closer to cap will do a much larger degree of mitigation. The more dLVL there is, the further away the cap is and the less effect DEF has on mitigating damage.