I like the set. All parts of it are pretty useful sometime or another.
Helm and armor for a cheapo mercenary outfit, gloves and belt is great for early bowazons and other leech fiends, the shield works well for prebuffing, and the armor is one of the earliest sources of easy light res, making it nice to slip into as you hit Act 2.
Interesting idea - throwing cathan's rings and amulet on and hardly having to invest to get the set on. Using crushflange you could have +35 strength. Not that the mace will get you terribly far, but it's just an idea.
I don't mind the strength requirements as I never am anyways.
And I agree with deadbeater - It's much more fun playing through under your own power, even if you are twinked to the teeth.
Sigon's already adds a lot of ar/level when wearing the helm and another item of the set which usually gives a character 95% to hit anything but act bosses in normal mode IIRC, so I usually prefer to use Nokozan/Etlich/Mahim Oak, Manald and Cathan's or rares instead of Angelic rings+ammy.
Weapon: Civerb's, except for barbs who specialize in something else than maces or future IK barbs who should receive Steeldriver at L29 (to be upped to exceptional at L34).
It's relatively easy to find, and can be completed by repeat runs of fairly low-level areas. The bonuses are useful, though not spectacular. It doesn't have a weapon, which is a big plus for a paladin since sceptres can have such good bonuses. It's usefulness may not last long, but it's hard to beat for most of normal unless you get REALLY lucky with rares. In short, it's a good set to have available for new(ish) characters. I have it in a GoMule stash, and I'm willing to bet a lot of other people do as well.