So there seems to be alot of confusion, misinformation, and just honest misunderstanding going on about hit and exp as a Brewmaster. A long long time ago, on the beta, hit and exp were absolutely necessary. Several builds later once it went live it was found out that the math behind the call for hard caps was bad, and that hit and exp weren't really needed nearly as much as people now thought. And it seems like one of those notions that once in the consciousness of the masses...is very difficult to get out. So here is the arguments and the math.
The general arguments for the caps are that a missed Keg Smash = death, and that hit and exp give better mitigation uptime. Both of these are false, and they sorta get explained hand in hand.
First let's get some numbers in here. 1% hit and 1% exp are both 340 points. 1% haste is 425. 1% crit is 600. 1% mastery is 1200. Dodge and Parry have diminishing returns...so their numbers will vary person to person...but we don't stack them anyways so it doesn't matter. To get to the hit and exp hard caps require 7650 points, or going 7.5/7.5 takes 5100 points.
Having the hard caps means you will never be miss/parry/dodge by a lvl 93 raid boss for your yellow attacks(and white if you use a 2hander). But is that really all that important? Proponents of the caps say yes because a missed Keg Smash = death. I disagree. A missed Keg Smash is simply a loss of 1 chi, 8 energy, and a gcd. Now that may seem like a lot at first glance, but it does not mean instant death.
Lets say you went in completely hit and exp naked, which is doubtful because it occurs naturally on our gear, but for the sake of this demonstration we are going in 0 hit and 0 exp using a 2hander. Our yellow, chi producing, attacks have a 22.5% chance to miss/dodge/parry in this circumstance. Missed jabs and expel harms are just a 8 energy and 1 gcd loss because we immediately hit them again, so no biggie, but let's look at Keg Smash. In a 6 min fight, we will miss 10 Keg Smashes, so that is 10 chi, 80 energy, and 10 gcds lost. But let's say since we didn't need that 7650 points in hit/exp we threw them all into haste, that would give us a whooping 18% haste, which is just under 2 energy/sec. Over those 360 seconds that is 720 energy, which is an extra 18 jabs, which in fairness we will prob miss 4 of them, reducing us 8 energy each, so we end up with roughly 17 extra chi in 6 minutes. Going from hard caps to 7650 extra haste you actually gain 7 chi in 6 minutes, or just over 1 chi/min.
Hit and exp also have no affect on Elusive Brew because white attacks are on a single roll system, meaning you don't have to hit...then it's determined if the hit was actually a crit. If you have 25% crit and 0 hit/exp you will still have roughly 25% white attack crits at the end of the day as your non-crits are pushed off the combat table before your crits are.
The last major argument is that hit and exp provide better mitigation(shuffle and EB) uptime. It only takes 20 chi/min to have 100% uptime on shuffle, which you can achieve completely naked, so how could adding additional haste and chi make it harder to maintain the uptime? Yes yes guard, purifying brew, lvl 30 talents make this harder to keep a 100% shuffle uptime...but again how can adding more haste and more chi make it more difficult? And as was said above hit/exp have no affect on EB.
I'm completely expecting the influx of 'what if you need those 2 chi right now and you don't get them and you die' type of arguments, but such a situation is so very unlikely to happen and could have been avoided by making sure you always have at least a few seconds of shuffle up...which you should have anyway. If you so desire I can give you maths about the unlikelihood of X consecutive misses given any set of hit/exp. The only real need for hit/exp is convenience...and if you're willing to make that argument I'm willing to accept it. It is annoying, but tanks since the dawn of WoW have always been missing, getting dodged, and getting parried, so it's nothing really all that new to me.