| Kazaan |
If it had been an "enhancement bonus to your armor bonus" then it would, essentially, be taking whatever armor bonus you have from your armor and increasing it by 1. However, as just a "+1 armor bonus", it's basically armor that uses the body slot rather than the armor slot. It'd be great for Monks except that Monk Robes are better. Maybe for a Dex based Monk it'd be a closer choice, but even a full arcane caster can wear Silken Ceremonial or a Haramaki w/out failure chance. Also, keep in mind that the +1 armor bonus won't apply to Touch attacks and the +2 Dex won't apply when flat-footed (unless it's boosting you from a negative Dex mod).
| MrSin |
One plus to it is that its price is identical to a slotless bonus to dexterity and doesn't eat up the belt slot. Your other option for a dexterity bonus outside of that slot would likely be an ioun stone. If your not using the body slot, you can at least get a small bonus to saves and I guess some armor class if your for some reason wearing a magical vest and no armor.