Rank 14 Power Word: Shield on the beta servers currently absorbs 2230 damage at the cost of 960 mana. That's an efficiency of about 232% of mana as absorbion, slightly better than the current max rank, 12, which has 210% efficiency (600 mana for 1265 absorbed). On top of that the spell has a coefficient of 30% of the priest's spell healing. Compared to Greater Heal, pretty inefficient.
Let's see what happens to those numbers with full discipline talents.
Take 3/3 Improved Power Word: Shield and max absorbion bumps up to 2564. Take 5/5 Mental Agility and cost dips to 864. Now the efficiency's up to 297%, still not all that good. That's about the efficiency of talented shields currently.
Now check out a WotLK talent that's on the beta realms, Rapture. At 5/5 points invested, this talent returns 25% of the damage absorbed by a priest's shield as mana. So assuming a shield is destroyed by damage in its 30 seconds of life rather than being dispelled or wasted, it will refund 641(!) points of mana. That brings the effective cost of the spell down to 223, an efficiency of 1,149%.
Not bad.
But it gets better.
PW:S adds 30% of spell healing to absorbion, which with Rapture also means an additional 7.5% of spell healing refunded. PW:S becomes *free* at around 2974 +healing, assuming it absorbs the full 3456 damage. That number sounds easily acheivable in the expansion. Then another talent changes *those* numbers. 5/5 Borrowed Time gives 20% more of your spell healing to absorbsion: 50% total, which is 12.5% refunded as mana with Rapture.
That means, that if you stack all those talents, PW:S becomes free at around 1784 +healing, and for every 8 points of +healing beyond that, you'll have a net gain of 1 mana.
Of course, in PVP you'll often lose that shield to the dispel effects of shamans, hunters, warlocks and your fellow priests before you get the full refund effect, even despite the dispel resistance of Pain Suppression and the newly boosted Silent Resolve. Still, druids, paladins, death knights and rogues will hate your free shields, as will mages (who can't afford to Spell Steal constantly) and warriors (who face the sad dilemma of spending rage to Shield Slam or starving on rage).
In PVE, constantly shielding your tank will win you the "worst healer evah!" award. But your free shields start to look pretty sweet for raid healing--raid protection, really, since shields offer certain advantages over heals, such as preventing pushback and bypassing healing-reducing effects. You can toss up a free shield every four seconds on the people who are going to take splash damage, buffering them and damaging the foe. In the 3 seconds between PW:S casts (its global cooldown is reduced to 1 sec thanks to Borrowed Time), you can toss around Renew and Prayer of Mending, or stack Grace on your tank via Penance, or slap down a Greater Heal, or whatever. Imagine how useful this could be in long fights with lots of AOE, especially if you're also doing DPS via Reflective Shield.
This is all theorycraft, I'm afraid. I don't have a beta key, and I don't know how it compares to the boosts the holy tree or the other healing classes are getting. And since it's all beta numbers, they might all change before they go live.
But from where I'm sitting now, this sure seems like a powerful new option for priests.
Edited, Aug 1st 2008 6:18pm by emmitsvenson