It's moreso about mob cons than anything methinks. 
That's why endgame tanks want just HP, since all the mobs they're tanking are usually red cons. 
 
If you fight a blue con that's just a level away from being a green con, you take very little damage. If you fight a blue con that's one level below you, you get max hit all the time. AC affects this somewhat, but the level is a huge factor. 
		
		
		
		
		
			
				__________________ 
				Brutillus 60 Dragon Hero Bracer Shadowknight - <Awakened> 
  
			 
		
		
		
		
		 |