No, but if you don't have a regenerative skill you get basically no benefit from MR armor. GM meditation basically gives you the full effect of mana regen, while I think 105-120 gives you a slight boost. Test on test center, I remember a few months ago after the pvp changes I got on there and noticed Legendary Focus +6 MR items > Legendary Meditation. I don't know what the formula is now, but I think every 10 points (in a regen skill, 30 and higher gives) a 10% boost and you have a default of 20% per 1 MR (for 20 and lower skill).