Sorry for the disorganized post, I wasn't about to read 8 pages of bickering.
I rolled a 24/12 2h spec with 8 IF last gen, the only two occasions I didn't get one shot by throwing lances were when Leman threw lances at me(He said he had the minimum PT required for them, mind you he was a hybrid sword and board + throwing build using the highest tier throwing weapon) and he would always do no less than 4/5 my hp, the other is when I wore plate and I would still only have a sliver of hp left(it is pierce damage after all).
Thinking about this realistically though, javelins can't be thrown in real life at the speed they are in game. Why should throwing weapons be the only exception to reality(aside from cutting damage on plate armor, for obvious reasons). Of course this isn't an argument many people will take note of(it is a video game after all) but I think this should raise a red flag.
Lets just throw up some numbers for throwing lances real fast:
7PT*8%damage=42% extra damage.
60p*1.42 = 85.2 damage
60p*12PT=117.6 damage
Now lets look at the popular German Greatsword with its wonderful thrust damage. We'll use the same power swing for the example as well.
30p*1.42=42.6
30p*1.96=58.8
The German Greatsword does half the damage after the damage modifier, as one would expect.
Now lets throw some armor into the mix and start with the German Greatsword. I got these numbers from the infinitum damage calculator and I realize there is no speed bonus calculated which would only serve to help throwing more than 2h damage.
Armor: 50(This is how much I have with a Cavalry Robe at 9.5 weight, not exactly tanky body armor)
WPF: 1
PS 7: 9-24 damage, average: 16.5
PS 12: 19-36 damage, average: 27.5
And for the Throwing Lances
Armor: 50
WPF: 1
PT 7: 39-59, average: 49
PT 12: 56-80, average: 68
Add WPF into the mix and you're looking at twice as much damage increase for the Throwing Lance as you are the German Greatsword. 100 WPF is roughly a 25% damage increase.
Throwing lances do three times as much damage as the best pierce damaging Two-Handed weapon. We can go through all the advantages and disadvantages of throwing vs 2h spec later. For now, just look at the numbers.