I am more into increasing my mitigation% than my EHP, simply because you can have a huge health pool and if you are still getting crushed due to lack of dmg reduction it doesn't matter what your HP is.

For example, I have unbuffed 947 all res, 3365 armor, 42k hp, 348k EHP 88%mitigation

When Gruesome Feast kicks in and I pop Frightening Aspect, all res jumps to 1100, armor jumps to 6700, mitigation is 93% - this is how I can survive in MP10 with only 42k health (in addition to hex/confusion). Tank molten explosions/trees/savagebeast etc. It's beautiful.