After writing this review I remembered about Solemn Vow and want to start from that as this is broken combo that combined with Enchanted Armor makes your team immune to mythos. Moving damage is different and does not involve placing. So playing this card, and Solemn Vow together turns all of your teammates into rougarou or trolls regenerating one point of damage/horror each turn without cost. This alone justifies playing this combo in any multiplayer team. I think this will lead to some rules clarification, but for now I don't find a hole in this tactic. The rest of the review is written before that and I don't have time to change everything, so I post it as it is, because it's still valid.
Most important aspect of this card came unnoticed in other reviews: ability to play it on others. Most of the investigators who can take it basically, either have other cards to play into their arcane or body slots or have low willpower or just generally wouldn't make good use of it.
The only investigator that is perfect for this card and has access to is Holy Muldoony ideally paired with Holy Rosary and Favor of the Sun. However, for some reason there is no decklist like that on the ArkhamDB. As placing damage tokens happens only as a result of damage, his ability means that you can move damage on Enchanted Armor until you decide you need to dump it for cash. You could use Blessing of Isis and some token manipulation like Unrelenting, and the results would be worth it. In the same way Wrong Place, Right Time and Solemn Vow can be used to freely clean yourself from damage without cost and work.
Lets look at the list of investigators that would make good use of this card, but have no access to it. I deliberately didn't include any investigators as if they really want some damage/horror protection they have Lonnie Ritter with Heavy Furs.
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"Ashcan" Pete and his alternative version: mid willpower; + nothing to put into arcane slot; No combo potential; + access to WPRT; +access to Vow (3+).
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Calvin Wright: +high willpower if insane; + nothing to put into arcane slot; + Would gladly accept extra protection from other investigators; + Access to WPRT; +access to Vow (5+).
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Daniela Reyes mid willpower; +nothing to put into arcane slot; ++high combo potential, she needs those damages; +Has access to WPRT; +access to Vow (5+).
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Warden (but you can consider assistant too) Hank Samson: mid willpower; + nothing to put into arcane slot; + He really needs tanking support when resolute; + His moves damage (or horror); + Access to WPRT; +access to Vow (5+).
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Minh Thi Phan: mid willpower; + nothing to put into arcane slot; +lot of skills that can bust willpower, +Has access to WPRT (3+).
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Silas Marsh: -low willpower; +nothing to put into arcane slot; +lot of skills that can bust willpower, +Would gladly accept some horror protection. +Has access to WPRT (3+)
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Wendy Adams: mid willpower; +nothing to put in to arcane slot; +can replace chaos token; +Has access to WPRT (3+)
Most positive synergy appears to be with Calvin Wright, Daniela Reyes and Hank Samson
So if you are in a team with one of those investigators, you should highly consider taking this card if you can and if you play one of those talk with your friends about including it in their deck. Remember about this combo, when playing two handed solo!
Who is perfect as a pair? William Yorick can replay this card from his discard pile making Calvin Wright indestructible god. Most investigators can take it, especially Carson Sinclair. In Carolyn Fern it's a little bit of no-bo, as she cannot heal the horror from it. Support Diana Stanley is also a good choice. I don't see it in "Skids" O'Toole or Joe Diamond, but if your buddy wants to play such pair than why not?
This is certainly niche card fitting only certain decks and sometimes asking for extra support, but for some investigators it can really shine. It has been a while since it came out and it is still unnoticed to this day.