I don't remember the study, but Old School shields are affected by the skill max armor cap, while insc shields are not. So if you run Armor of Earth like many T1/2 I see these days you may hit the Armor cap and not receive as much armor as you should.
I'll try to find the study and post a link.
Honestly, I've never had any problems with damage on the battlefield, which is really the only place with hordes of Undead.
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