Now THAT is a point worth considering, I feel stupid for not using it in IHX more, save for getting the Hadouken easy.
The Shield Boomerang does have that quality too tho, and even helps in aiding the speed in wich regular attacks can be performed, wich is so unimaginably useful in Zero1 (I would never have gotten sub27 minutes on hard without it.), oh, and it reflects bullets that deal pity ass damage, but still enough to be of use (see Zero 2, Kuwagust's Mission).
What Rolling Shield does deserve props for is that it absorbs bullets while being a projectile weapon, not sure about IHX's, but I'm pretty sure that no other projectile weapon has that trait (at least not the way uncharged Rolling Shield has.)
At any rate, Jewel Satellite is the best shield weapon in the classic series, but thinking about it over all series, it does seem to be 1-upped by IHX's Rolling Shield and the Shield Boomerang, I'm putting Shield Boomerang on first place, seeing as how it's has the pro of be able to deal good damage to a more wide variety of bosses (even more so on Hard).
-Elpis