To make the pretty expensive process worth it, you can updgrade the chainmal with lifeshards.
Means if you wear the whole set you get permanently 10 additional hearts with it.
Amor can be repaired with rings again. Would be a great armor for new players, cause of the older ones got chests full of lifeshards basically.
Chainmail Armor recipie with ironrings / Lifemail recipie / Lifemail Armor
Textures for Lifemail if needed:
