12 Defense and 1 Vitality is too good for level 10 :)
On a more serious note, its very likely that the game developers wanted there to be enough nice conquest items to last you all the way through level 25, when you are expected to advance to rank 3, and Rank 3 Conquest Items become available to you.
I currently wear these on my Red Mage (and have no complaints).
This is a conquest item. You get it by spending your conquest points at a gate guard with the letters after his name. They cost 2000 conquest points and you must be rank 2. Very easy to get if you have ever had signet cast on you.
anyone know where to get this item other than auction house? 10k is more than I wish to spend on it, but I won't be able to get better pants for another 10 levels or so