With Minion of Eternity focus, the lvl 70 pet is still hitting for his normal 102.
While soloing in Griegs, I noticed his AC hadnt gone up, but instead of being able to solo a single mob without really noticing a dent in his life, he was now at half-health.
Of course, I only have the once incident to base this off of, but a person in my guild mentioned mages were having a similar problem.