Since they buffed Victory Rush from 10% to 15% I´m even considering to skill Impedning Victory instead of Enraged Regeneration. 15% every 30 seconds for 10 rage > 20% every 60 seconds for 30 rage/0 rage while enraged imo. Furthermore, the 2p-setbonus will be like you KILLED an enemy, thus, healing you for 20%.
Of course a thoughtful usage of Demoshout is adviced, I won´t pop it right at the start if I know some spikedamage will be applied later on. My point was simply, that more rage = more mitigation = winwin. Especially if tied to an 1 min CD, which I am eager to use.
2/4 DPS bonus as prot will be fairly atrocious, both because of the enrage uptime you already have, and because of how much (none) haste you should be gearing, but to each it's own. You really don't like having 8.3% average rage gen more (Demo shout is not really a CD to sit on for too long, so using it each minute is not too far from the truth)? And that's average, effective rage is higher.
About Impending Victory, consider that the 2pc bonus reset its CD, it's not an independent spell. So when it reset the CD, you use your 30% health, and Impending Victory gets a 30sec CD again. Also, if you want to sit on the proc, Impending Victory CD it's not getting refreshed, it will be 30 sec counting from where you used your proc. Then again, in the 20 gcds you can put out in 30 secs, you have a good chance of proccing the set and be getting 20% heals instead of 30%, having the 20% enraged regen as independent heal. At the end, you get the same healing more or less, but you can choose betweeen 20%+20%+20%, with the 20% from enraged whenever you want it, or 30%+30%. I will keep Enraged Regen, for normal fights aaand, for fights with revenge spam, Impending Victory. You will proc the set each ~15 secs or so there, getting 120% each minute.