So long as you can avoid some of the fire it's enormously effective, especially if you're running nanoweave, pretty similar effectiveness as nmg if you've got a decent level of nano and healing. Obviously wont help you with burst damage like a real shield, but it's incredibly effective in most combat scenarios, I would definitely consider my medic more durable than my heavy in a practical sense.
- Heals you, allows to survive a bullet or two more - Allows to recover from battle faster - Heals those near you if you are in a small group - Has no cons Overall, I tend to enable it every time I go into some room or at the corner, actually even more often then I use heavy shield.