Thanks for all the responses and info guys. I just went ahead and made a Magelo to show my gear:
https://wiki.project1999.com/Magelo_Blue:Exadar
The total AC calculation on the Magelo must be a little off.. in game I have 963 total AC with this exact gear equipped. The Crustacean Shell Greaves actually net me 69 hitpoints at this level.
By the looks of Jimjam's info I definitely exceed the AC cap for this level so I will probably just wear the Crustacean for the most part but still carry the Valorium around for when I need the resists or am frequently lulling.
I have not done too much in Kael but I am definitely looking to do so. It's a ways off (I mainly group with slightly lower level real life friends) but I'll seek that armor set as soon as I can. It looks like the gems for that slot aren't even expensive. On a side note, does anyone know what color the Thurg paladin armor is? Like fine steel?