Someone asked for a comparison earlier, so i did one. here ya go
Links for some items.
Note: Some of the class gear is MUCH better than the lustrous gear.(example: see ranger gauntlets, rogue boots.) All that the lustrous gear is is just Warrior gear that's usable by other classes.
Lustrous Russet BP
Now, Compare that to these -
Palidan BP The Lustrous is much better for, well, everything. The wisdom is Irrelevant, and the added AC is king.
Ranger BP Once again, wisdom is irrelevant. more ac, dex, str. Good for DPS.
Rogue BP This is the only chest that is comparable, but LR has more AC and +2 stats are always needed.
Shadowknight BP This one just has worse stats overall.
--------------------------
Warrior BP Posted just to prove the point that its the same statistics.
I don't want to take the time to prove it with the other items, but aside from a few exceptions, the lustrous russet provides more damage dealing statistics or resists across the board for the most part. The sleeves, bracers, leggings all come to mind as pieces that are always going to be better than a class alternative, gloves are usually better for hybrid tanks and clerics, and the boots just rock face for a cleric/shaman.