My only beef is that armor seems generally worthless. First game I played a glass cannon, fashion over function, type and I havent really noticed much of a difference than my current game where im decked out in legendaries. Enemies still have a chance to 1 shot/2 shot me, even with 600 health from bonus perks and mods, which I didnt have in my first game. It almost seems like damage from mobs is a percentage rather than a flat amount.
Armour has a huge impact.
I just ran up to 3 scavs and let them shoot me with my current build with 1994 armour and it took some time for them to pull me down to trigger the biomon. I then reloaded and took off a few items to cut my armour to 1189 and they cut me to shreds in comparison. You can see the chunks of health being taken off are way larger and it's very easy to visualise by looking at the health bar. Obviously there's some variance in the damage they inflict depending on them getting criticals or not but the difference is pretty clear.
The issue with the current game is that there's comparatively very little difference between rare, epic and legendary armour any more due to the slot count being cut down. I don't know if the devs really considered this when they did what they did to slots. The only difference between an epic item and the legendary version of it is the fact you cannot slot the legendary mod into the epic item. There's functionally no other difference.
Armadillo epic @ level 50 is +68.5 armour.
Armadillo legendary @ level 50 is 75 armour.
So, ultimately, the difference between an epic and legendary outer torso item is a measly -15 armour
The same can be said when comparing many rare items with legendary items, because they can have slots too, albeit not 2 on the torso items. Still though... even uncommon items can have slots! the total difference in a full armour build (armadillo everywhere) between legendary and an uncommon set with a single slot on every item is a matter of a few hundred points. Enough to make a difference but not nearly as significant as the comparison I ran just now by taking off a few items to cut my armour by about 40%. Bearing in mind that a balanced build probably wants deadeye or something similar on the face-wear anyway and this cuts the benefit down even further in terms of raw armour.
What this means is, there's less of an impact between a maxed legendary build and a "fashion first" build than there used to be when we had legendary items with four slots that allowed 4x150 armadillo mods to be slotted in. Is this a good thing? Well, you can still get over 2500 armour with a properly specified build and my build that has that armour was able to defeat the toughest content in the game so... I think it's fine. You could try running about with a build that had sub 500 armour and see how you get on but we get a lot more survivability via perk/skill/cyberwear choices I think and so the chances are, if you're not specced for armour then you're getting some other benefit somewhere else. As I've said a few times elsewhere, at level 50 and fully specced, very few Vs will be anything but deadly. The only real way to see the benefit of armour is to empty some clothing slots entirely (because stuff you obtain at level 50 is scaled to level 50 and so functionally the same as legendary unless slotted).
All that said, I think the new mitigation system may be worth looking into as an alternative, if you can get the mitigation chance up. I've not tried it yet because I don't think you can craft it.