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Yes, it is very efficient.

But the correct answer is: if you need to spec it or not, it depends on mitigation threshold of the fight you have to tank, and on your gear.

Basics: damage you take...

Well to tank magic bosses you need protection also in tali spec..

Anyway a viable tali spec for protection fights that works decently for me is something like this:

http://goo.gl/VzOQlS

For...

1. T4 Guard sword base DPS: 125,5
2. T4 DT sword base DPS: 122
3. Ibis base DPS: 116,3

Difference between 1 and 3: 9,2 DPS
15% of 9,2 is 1,38 DPS.
I doubt you will see any difference.
...

I don't hate Sustained Rage, but still it is not so important as you say.
The reason is in Noite test results, that's the proof of a feeling you can have by playing with builds: it is a pretty low...

Why tali/dread? That's not the hybrid spec I was talking about.
Ok let's call it trybrid.. ofc you need maxed general armor to tank with tali.
In my experience you need even in Kithai HMs.
K6 men...

I checked some parser I had, and with 1 point (I usually feat it with 1 point only for VoM proc) Blighted Soul hits for around 13 DPS, on single target boss and with Kithai tank gear in defencive...