Since lordly armors got +1 armor in .223 (+3 on lordly instead of +2) it felt like they lost their bonus protection. So I did some testing this morning with Astinus, with 2 setups that both have a total of 61 body armor : Lordly Sarranid Guard Armor + Scale Gauntlets and Milanese Plate + Leather Gloves.
Tested it 10 times for each combination to avoid the random factor and the difference was pretty obvious, Milanese + Leather Gloves, despite having the same total armor, provided significantly better protection. It looks like the +7 armor that Lordly modifier should provide doesn't apply.