Okay, just for fun, I'm going to compare the Magic Armor from Wind Waker with the version from Twilight Princess, covering the pros and cons of each.

WW - Pros: Fairly easy to get on the trading quest that Zunari asks you to do for him. In Wind Waker HD, doesn't consume any of your Rupees if you're not getting hit by enemy attacks. No negative effects if, for some reason, you do use up all 5,000 of the maximum Rupees you can carry with your Wallet upgraded twice. And it seems to me that it would really enable you to abuse the attack boost that Elixir Soup gives you. Cons: Takes up one of your three item slots. In the original Wind Waker, drained your magic gauge instead of your Rupees, and depleted it fairly quickly at that.

TP - Pros: Doesn't take up an item slot. Cons: Requires a ridiculously complicated series of quests, to the point where anyone who says they didn't have any trouble with the quest where you have to escort that Goron carrying a barrel of hot spring water is probably lying. Said quests involve paying a ton of Rupees. Magic Armor consumes Rupees even if you're not taking damage. And when you run out of Rupees, it becomes worse than useless and is impossible to even move around in, forcing you to change your gear.

I'd say it's pretty clear which is better. The Wind Waker version is simpler to get and is much easier on your wallet when it's in use, while the Twilight Princess version is a pain in the ass to obtain, and probably isn't really worth it in the long run.

Yeah Twilight Princess's Magic Armor is pretty useless, especially since you don't get to hold as many Rupees as you would in Wind Waker.

Not gonna lie, the magic armor in Twilight Princess is more of a trophy to me. I really don't like the snob of a shopkeeper.

those TP quests weren't complicated at all!
... no seriously. with the water barel, you just run next to the cliff. everything ignores you.