has the latest update messed with weapon damage?
Its only coincidental (see the official patchlog).
cRPG damage VS armor is a complex formula that allows a VERY wide array of battle results (VERY VERY wide, and I find it awesome) : sometimes the same guy with the same weapon will cut me to pieces in 2 or 3 HITS (or even 1 BUT very rare), the next he will need DOUBLE or in extreme case TRIPLE the previous number of hits (so in some scenario you can be still standing your ground after multiple OH to the head in a group of people: epic).
I play the game with 36/3 12 IF for some generations and I can add that the efficiency of HP is greatly improved by the ARMOR.
Example :
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naked, even with over 9000 HP, I will die in 1 or 2 hits (3 if im lucky) like a peasant;
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medium armor (30-40 ARMOR), I will sometimes get killed in 1 hit, but more like 2+ (to 5+ hits if ultra lucky) like a proper warrior;
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UBER HEAVY ARMOR OF DEATH WITH BEVOR OF STUPIDITY +3 (70 ARMOR) I will ultra rarely die in 1 hits (a masterwork siege crossbow to the head or a couch at full speed 50% of the time), rarely to 2, most cases to 3/4 and lots of them to 5+++ (due to glances, poor angle, this is even improved) and this even against DAMAGE TYPE like pierce or blunt that ignore a % of the armor.
This is due to the soaking damage formula (that I fail to find) and the combination of the speed bonus applied to damages, damage type and all that shit and more and Im sure I dont know it all god I love this game (see Game Mechanic megathread for more info, every players should read that 10 times per day :
http://forum.c-rpg.net/index.php/topic,23607.0.html ).