Peace is intended for the Amazon class. It is a very cheap way to obtain +2 skills on an armor for amazons, and a few other useful traits though it does not compare to most end-game gear. This armor is sometimes used by other classes for the Valkyrie proc, although it does not activate if it is worn by their hireling.
Unlike conventionally summoned Valkyries, the valkyries summoned through Peace's activated ability do not last forever. They instead despawn shortly after being spawned, though when this happens seems to be random (between a couple of seconds to almost a minute). It is impossible to have more than one Valkyrie summoned at a time, so this armor is wasted to an extent on an Amazon who already uses the Valkyrie skill.
4% Chance To Cast Level 5 Slow Missiles When Struck
2% Chance To Cast level 15 Valkyrie On Striking
+2 To Amazon Skill Levels
+20% Faster Hit Recovery
+2 To Critical Strike
Cold Resist +30%
Attacker Takes Damage of 14