Protector of Lorien is a very useful card, even post-errata. You used to be able to dump your entire hand for a massive quest push, but now it's limited to thrice per phase (you can still use it for willpower and defense in the same round). However, it's still an extremely useful card. It's an easy way to dump uniques, and at a profit! You can trigger it prevent a hero from dying to a shadow effect or direct damage. Or, you could just use it in the planning phase for loop shenanigans, stand and fight, or Caldara.
Protector of Lórien
Attach to a hero.
Action: Discard a card from your hand to give attached hero +1 or +1 until the end of the phase. Limit 3 times per phase.
The Fellowship of the Ring
Core Set #70. Lore.
Protector of Lórien is an excellent card. First of all, it can give Éowyn's ability to any hero you're running, along with the discard mechanism, so if you are running hero, it works very well with Stand and Fight. If you use it on Éowyn, you can boost up to 8 per phase in solo game, 9 in fellowship and 10 -11 in multiplayer without any other attachments. And you can do it after the new encounter card was added to to staging area. Since the action is limited only on phase, you can use it also on defense in the same round if the situation allows it. The defense mechanism worked for me very well with Bilbo Baggins, Beravor who will provide enough cards or Denethor with his 3 or any other dedicated defender. Not even saying that this card is also very well done from the thematic point of view with excellent artwork. Verdict: 5/5.