Return of Reckoning

I was just wondering if its better to take the dodge parry weapon and shield or the set that has hp and ap regen?

Complete avoidance is better in small scale, while passive regeneration is better in massive oRvR. In between those situations the parry/dodge/disrupt bonuses are more widely useful than the attrition war regenerations.

Avoidance is always better, especially block/parry as those are the only way to mitigate guard damage.