Devastate will have more threat than sunder the first 5 times. Devastate does Sunder threat + 1/2 weapon damage (normalized) on the first use. So, that's at least 1/2 weapon damage more threat than sunder.
Afterwards it depends on how much AP and the speed of the weapon to determine if it deals more threat than sunder. But my gut tells me that devastate does more threat even with low AP and fast weapons.
After the target has 5 sunders, devastate only does 1/2 weapon damage + the devastate modifier X # of sunders...
Sunder does 301 threat base, Devastate does 106 (innate) + 175 (sunders = 35 damage * 5 sunders) + 1/2 weapon damage. Or, 281 + 1/2 weapon damage = base threat.
So, it's better to just replace sunder on your tanking bar with devastate and just forget you have it while your prot spec.
Shield slam on cooldown, revenge on cooldown
Devastate in rotation to keep 5 x sunders on the target, but otherwise it's not as efficient per cooldown to use.
Heroic strike is a wonderful tool to add into a tanking threat rotation.
My rotation for tanking starts with; Demo shout, thunder clap, devastate, devastate, devastate, devastate, devastate; But then I stop the focused devastate and use revenge and shield slam instead. When I have excess rage (50+) I cycle heroic strike in the rotation, and use devastate to re-apply sunder debuff timers only.
I try to keep shield slam and revenge on perma cooldown. Keep demo shout and the clap on my target. Then use the other abilities as needed.