The problem I see with fencers/glittering scales is your shelling out a bunch of points and foregoing your high strength, mobility and some of your armour save for stacking up 1 type of protection. Anything that does not roll to hit goes straight through you to your T5 and 3+ save (4+ scaly + Light armour).
I do think however, that glittering scales is a great item for a mounted oldblood. it leaves some of the "better" defensive items for your more restricted scar vets whilst still getting your 1+ save and a nice bonus on the side. I probably wouldn't look at putting him on foot with it though as it will make your maximum save 2+ and that's using up a hand for a shield.
An Old blood with Glittering scales, a cold one, GW and the Talisman of Preservation has that extra layer of protection in a 4+ ward, has a 1+ save, and retains his mobility and can-opener status, whilst having multiple layers of defences against a variety of threats (For extra fun you could even tack on Egg of Quango). Theres also no reason why he can't join Kroaks unit either, with it still conferring all the same benefits except LoS which you have a wardsave for and by dropping Fencer's you only miss out on forcing 6's to hit against enemies with WS 7 or better.
