My understanding is no these only give you additional stealth not defense.
It just gives you stealth distance, it doesn't slow you down or give you defense like the power [Stealth]
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whats nice about it is it stacks with just about every other form of stealth.
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If you want to be totally invisible to most critters, you generally need two forms of stealth running. The only exceptions I can think of are Illusion Control's two stealth powers and Stalker stealth. Everyone else needs to stack stealth from two sources like Super Speed, Stealth pool power, a stealth proc, or a power like Steamy Mist.
Does this work exactly like the Stealth power? Mids doesn't include a def bonus when using it. (Yes, I'm that close to the soft cap).