It all depends on what you want to do well against. However, that said, I think the emphasis on PDR in public dueling games has dropped. From what I can tell, correct me if I'm wrong, Amazons, and physical damage dealing characters in general have dropped off. And ~40% PDR is easy enough to obtain with a Homunculous. So that said, I think I would be tempted to go with a Homunculous build. I know the build I've suggested in my guide with defin8ly work, however, I think you might be able to optimize against certain characters like firesorcs, and other bone necros with a homunculous build.
The only downside I see, is that you will not be able to take advantage of Enigma's massive strength boost. One of the problems with SS was that it's strength requirement was far beyond that of the rest of your gear. So it's really a hard call. A homunculous build can definately work, however, weither it's the best way to go would really require some closer calculations.
Just keep in mind that you can always use the homunculous when dueling casters, and the SS if you're dueling physical based characters. With enigma, you don't have to commit yourself to one shield.