You can argue for the situational benefit of Pain Bearer or Valiance, imo. Pain Bearer is beneficial when you're taking damage from any source. Valiance gives you more leeway to utilise Noble Sacrifice when you're getting pressured by incoming damage, on the other hand.
Ultimately, at BiS gear levels you're going to have about 20k health, give or take. Each point in Valiance means 400 less damage taken for every NS. You'd have to take 10,000 in healing from other sources for every NS (20,000 if you drop two points) before Pain Bearer becomes more mathematically advantageous.
To say that it is mathematically more advantageous is kind of misleading. Its a benefit that is hardly ever realized because standing in salvation will you heal you to full anyway. I mean I get it. If you're taking a lot of damage I can see it being useful when you still need to NS. But to me, pain bearer is not only useful when healing up NS damage but it's also useful for healing ANY damage you take. It's a small benefit either way. You basically weigh 4% more healing on yourself over taking 400 more damage that is going to get healed anyway at no cost to you (usually).