It's a cheap upgrade in any case, but the small added defense isn't going to make much difference. It does not add to the block chance. If you have 2000+ defense, it may give 1% less chance to get hit from monsters with low attack rating and if you have high character level. Maybe. I think it's more of a pvp thing in fine-tuning stuff.
If you use defiance aura in any case, then it may be worth it, because the extra defense gets enhanced by the aura bonus.