Well I guess I wasn’t really finished posting on the subject anyway
Can’t really show a character from a real game as no one in my games fit the bill. But I think the following would more or less be what I would expect from a standard non-power gamer.
I’m assuming 28 pt buy, a starting wisdom of 17 (str 11, dex 10, con 14, int 12, wis 17, cha 8) increased to 19 and pretty low physical stats as most druids past 6th level will spend a lot of time in wildshaped forms with good physical stats. I would not expect the druid to ever be in a combat situation without wildshape unless surprised (and even then it will be along the first actions, it’s just hard to beat a buff that nets you +16 Str, +9 Con and +5 natural armor). The druid will, of course, have the Natural spell feat.
I’m also assuming standard wealth (66,000) and 11th level as this is the earliest that allows the belt following the DMG suggested guideline of max ¼ wealth spend on a single item.
I’m assuming that the druid will want to have a good AC in both normal and wildshaped form. And that the druid will want to keep wisdom as high as possible.
I’m assuming that the belt, amulet and bracers do not meld in wildshape forms that could reasonably wear them (according to Rotg) as this is how we play it in my games.
I’m also assuming that the Wild armor does not give any armor check penalties or max dex bonus in Wild shaped form. (This is not how I actually rule it as it brings up problems with the Master of many forms prestige class). I’m only using special materials found in the SRD. With other material the hide armor could be exchanged with a breastplate for +2 AC (but not touch AC).
Druid 1
Monks belt 13000
Periapt of wisdom +4 16000 (29000)
Bracers of armor +3 9000 (38000)
AC in human form 20 (+1 belt, +3 armor, +6 wis), touch 17, flat-footed 20
AC as Brown bear 25 (-1 size, +1 dex, +1 belt, +3 armor, +6 wis, +5 natural), touch 17, flat-footed 24
Druid 2
Hide armor wild +1 16000
Large shield animated +2 16000 (32000)
Periapt of wisdom +4 16000 (48000)
AC in human form 18 (+4 armor, +4 shield), touch 10, flat-footed 18
AC as Brown bear 23 (-1 size, +1 dex, +4 armor, +4 shield, +5 natural), touch 10, flat-footed 23
It would seem to me that druid 1 have spent less money and has an overall better AC. His touch AC is 7 points better. An 11th level wizard has about +6-7 to hit with those nasty touch attacks. That’s 35% less chance (and about 50 % of being hit total) of being hit by that disintegrate, enervation and so on.
Lets move on to 15th level (as my games never really go beyond this). Wealth is 200.000 and max spent on a single item is 50.000, Wisdom is by now 20.
Druid 1
Monks belt 13000
Periapt of wisdom +6 36000 (49000)
Bracers of armor +7 49000 (98000)
AC in human form 26 (+1 belt, +7 armor, +8 wis), touch 19, flat-footed 26
AC as Dire bear 33 (-1 size, +1 dex, +1 belt, +7 armor, +8 wis, +7 natural), touch 19, flat-footed 32
Druid 2
Hide armor wild +4 49000
Large shield animated +5 49000 (98000)
Periapt of wisdom +6 36000 (134000)
AC in human form 24 (+7 armor, +7 shield), touch 10, flat-footed 24
AC as Dire bear 31 (-1 size, +1 dex, +7 armor, +7 shield, +7 natural), touch 10, flat-footed 30
The conclusion is the same. Druid1 has spent less money and has better overall AC. The difference in touch AC is even greater now and Druid2 will virtually be hit by all touch attacks, whereas druid1 will still avoid many touch attacks.
All this of course depends a lot on your campaigns rulings on wildshape and melding of items. But IMC this more or less standard druid would be better of with the belt even in his own form.