You do realize that warband doesnt care whether you are hit to body or arm/hand, right? For the engine, that's still the same area. The only areas that get modified damage are head (increased damage) and calves (reduced damage) as far as I know. You can always search through cmpx posts though, to be sure.
Arm and Leg are limb bones and have an 80% damage multiplier, head bones are 120% unless it is from range then it is 210%. Body and feet and hands are all "body" and thus 100% damage multiplier.
I'm pretty sure arm bones work the same as leg bones for damage modification.
As far as "hand armour" the armour it (gloves) gives adds to the "body" armour which covers everywhere but your legs and head, last I checked.
Of course, I could be wrong...
