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If you can reach 219 resistance to get those 20% min resists it can be useful, wrist resist enchant + this ring will put you over 219. And 70 stamina can be worth guaranteed additional 10% spell damage taken[reduced] if you "progress", means if you are not decked in 264+. And is cheaper than changing head+cape enchants on 1 boss per raid.
But yeah, it is very rare to meet someone who understands how resistance works and just using this ring to have 160 resist.. sure, it increases chances but is laughable if you cant reach those caps for reliable min resists.
Edited: May 19, 2019