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This is how I see it.

For 5 mans, Tact mastery and imp sunder are awesome, as you may need to intercept to save someone, and you most likely will be tanking more than 1 add, so the chances of you getting 5 sunders on each mob and then starting to devastate is slim.

As far as heroic strike goes, it is probably, my 3rd most used skill while tanking. Just as you do mightee, I HS between almost every skill.

Basically use shield block when its up, shield slam when its up, revenge when its up, and and use HS and devastate when they aren't.

That reduced rage on the HS is real nice for that, and after 5 sunders, you wont use sunder again for an entire boss fight (as a Devastate build), so thats 3 talent points out the window.

Occasionally i spec into imp shield wall, its nice, but not a make or break talent, the skill may be, but the talent is not.

Think of improved defensive stance as a block for spells, block takes what, ~300 damage from a physical attack of anywhere from 1-10k, its not significant for the particular attack, but in the long run, its helpful.

As for 1h spec, think of it this way, assuming you've got a kings, a HS can range between 274-358 that is un-buffed, non-critical, w/o taking into account attack power. With 5/5 1H Specialization that changes to 301.4-393.8 this is pure damage. then take into account -10% for def stance, you will hit for an average of ~250-~270 1H Specialization gets you back up to the previous numbers.

If you look at the tool tips for Sunder and HS, they both say "causes a high amount of threat" this is slightly misleading, HS does cause more threat then a normal white hit of the same damage, but its about 40% of the threat as a sunder. The real value of HS threat is from the damage portion. The more you can pump out from that the better the threat. w/o improved HS, i wouldn't really use HS, unless I had a lot of rage, and all my other skills were on cool down.

From a short test, still in my dps spec, heres some numbers to throw out. this is w/o 1h Specialization.
With Focused Rage, Improved HS, and Improved sunder

With 1H Specialization, Improved HS, and Focused Rage.

This part is off the top of my head, with Focused Rage
Devastate (12 rage) (with 5 sunders) causes ~115 damage (~ 140 threat), and ~830 innate threat, so ~970 threat from the damage portion with the innate threat of the ability with sunders. ~80 Tpr

I can't really recall any of the numbers for shield slam, but off the top of my head causes ~ 135 Tpr

From this basic list, you can see that abilities, in order or Tpr efficiency are..

Now for a little more breakdown...
If you don't have Improved HS, or 5 sunders on a target, the Tpr is gonna drop a fair amount, to ~70 or so. Which is lower then sunder.

The best part about HS, is the ability to dump rage, w/o triggering your GCD.

While tanking bosses in Kara and beyond, i honestly have all the rage i need, and then some, so dumping it in HS is a great way to get rid of it. I feel that if I have more then 70 rage, I'm doing something wrong. (thanks for that Teva)

Another thing that effects your rage generation, and therefore you threat generation is your weapon/dps. You can have a million hp and defense, but if you can't hold aggro its all moot. Make sure you have enough strength, it helps your block, and your AP, block not only makes you take less damage, but increases the damage done by your shield slam drastically. Remember ~40% of your threat, comes from your white damage.

My take on some upper Tier tank weapons in use right now

Kings defender
Sun eater
Fel edged battle axe

Trading off DPS for mitigation: