When is the Mercurial MSI calculated, before or after mods?
Let me put it another way, with an example:
Pretend shielding halves your speed (maybe it really does). If you have 100% top speed, shielding reduces it to 50%. With mercurial 8% MSI, your top speed is 108%. Does shielding reduce it to 54% or 58%?
I went into ATH, recorded some clips, and did some framecounting. The results are probably not the most accurate, but should give a good idea and probably answer your question.
Running from the west end of ATH to the barrier into the scuttlebot pen using-
-Chaos (0 MSI): 562 frames, 9.367 seconds, 100% speed
-Ancient Plate (-2 MSI): 610 frames, 10.167 seconds, 92.1% speed
-Mercurial (+2 MSI): 523 frames, 8.716 seconds, 107.5% speed
While shielding:
-Chaos: 1125 frames, 18.75 seconds, 50.0% speed (Good estimate, Thinslayer!)
-Ancient Plate: 1224 frames, 20.4 seconds, 45.9% speed, 49.8% speed compared to Ancient Plate without shield
-Mercurual: 1044 frames, 17.4 seconds, 53.8% speed, 50.1% speed compared to Mercurial without shield