It can be powerful enough to stop:
-Melee.
-Shotguns.
-Handguns.
-Sub machine guns.
-Non direct explosive blasts at a certain range.
But if a high caliber weapon fires at it. The bullets would go through, but the damage from them would be reduced.
Damage:
Even though it can stop the weapons I listed. It would take damage from them The rounds that are able to go through would cause even more damage to it. You can also use it as a close quarters weapon. Just like in the Elder Scrolls games. But each bash would do damage to it.
Usage:
It would only be useable with one handed weapons. If you hold down the left trigger(Xbox). You would bring the shield up in a protective stance. You would be looking through a small window and your weapon arm would be on the right of the shield. To do a melee bash you just pull and release the left trigger(Xbox).