@Trig:
We are already tweaking the game balance a lot for the upcoming Goblin Update. There are many factors playing into the heavy armor issue. For example there is no enemy weapon progression at the moment. Thats why orcs will one-hit you in the first encounters, because their weapons are designed for late game battles.
All of this and more wil be remedied slowly but surely :) The Goblin update will be a big step in the right direction.
On top of that have a look at the reworked tunics: