So.. I got to IB level 5.
Gheleon's Demise is very good. Amazing impact, low recoing. I didn't re roll it, since I feel like it's current roll is really great. Lack of Field Scout isn't much of an issue when you have fast reload after a precision kill.
The Shotty is pretty good, too. I re rolled it a lot, ended up with Full Auto and something else that I don't remember right now, and it did very well for PvP.
I also got both Gauntlets and Legs, mainly because I've been having the WORST luck in the Raid, 3 weeks in a row without ANY armor drops. Now I'm only a Helmet/Chest away from hitting 32.
I know complained before, but it wasn't that bad, grind-wise. Yes, the multiplayer mostly sucks, and getting killed by Supers most of the time you're capturing a Control point is frustrating, but I think the rewards for this one are worth it. I played about 1.5h a day, mostly until I finished all the bounties. Having all 3 IB items and the buff helped a lot.