I tank a fuckload of hits in melee, but regardless whether I wear 60 or 79 body armour, 2-3 bolts or 3-5 arrows and I am toast. This could have to do with my incessant backpedalling and all the melee hits I take get reduced damage from bad speed bonus, but I am fairly sure if I were to count the result would support the OP.
I always found armour way too powerful and allowing too many mistakes in this mod, except when getting shot because then it doesn't do shit.