I have gone the high (for a rogue) AC route. (admittedly, a while back). It seems to me that 25% dodge + 25% incorporeal + 20/50% concealment is far superior to high AC. You simply do not get hit too much with all of that! This with high reflex save (60+) works a lot better for me than high AC ever could because I can get all of this without sacrificing anything at all roguish wise.