well, here's my 2c.

LvB crits about 50% anyway, since our crit is so high.

So, you are taking a 4pc PvE set into arenas for 2 more crits on an already very powerful spell.

Now, assuming you did, the best thing, would be to flame shock one target, and then switch to a healer or whatever who will be standing still to cast, and lightning bolt > EM LvB > Chain Lightning > Shock for the ultimate 100k dmg on a single target, which should be dead before the CL cast.

Now, this is already a strong bonus, and aside from the SP and Int and extra dmg on the PvE set, I'm not sure it's worth the extra resilience sacrifice considering more resiliance is coming next patch, making crits hit for even less than now... I dunno, that's a lot of badges and gold (considering that 300+ frost emblems are worth at least 25k) soo.. thats 125,000 gold that you could have possibly put into other endeavors other than the PvE set (if your goal is PvP only) and that kind of gold will outfit your toons with all the queldelars, 10x whatever professions you like, and pretty much anything you want until the xpansion :P

I dunno, what raid content are you doing that you need the set from emblems and can't get them from drops?