For the most part I only make frigates with shields, and though I should see what I could come up with frigates that use armor. After sever designs that all seemed to just suck I decided to make basically the same frigate, but one variation with shield, and the other with armor. Here is what I made:
[config]
name = rebel frigate - sr frigate armored
guiname = rebel frigate - sr frigate armored
hull = Rebel Odin Frigate hull
cost = 1029
[modules]
0 = frigate_ion_cannon,
1 = frigate power II,
2 = frigate_ion_cannon,
3 = frigate_armour III,
4 = frigate_ion_cannon,
5 = frigate_ion_cannon,
6 = frigate_engine,
7 = frigate_engine II,
8 = frigate_armour V,
9 = frigate_armour V,
10 = frigate crew II,
Speed=.29
Average Armor=11.82
Shield Resistance=0.00
Shield Strength=0.00
Damage Absorbable=130.00
Hit Points=123.00
[config]
name = rebel frigate - sr frigate shield
guiname = rebel frigate - sr frigate shield
hull = Rebel Odin Frigate hull
cost = 836
[modules]
0 = frigate_ion_cannon,
1 = frigate power III,
2 = frigate_ion_cannon,
3 = frigate crew,
4 = frigate_ion_cannon,
5 = frigate_ion_cannon,
6 = frigate_engine,
7 = frigate_engine II,
8 = frigate shield II,
9 = frigate shield II,
10 = frigate crew,
Speed=.32
Average Armor=0.00
Shield Resistance=10.00? (Not sure how shield resistance stacks)
Shield Strength=126.00
Damage Absorbable=0.00
Hit Points=252
So both ships have the same weapons, the armored version is slower, costs more, and has 129 less hit points. Both are about equal in damage absorbable~shield strength, and average armor~shield resistance.
Both average armor and shield resistance are low enough the pretty much any frigate or cruiser weapon will get through. To me the armored version is inferior in every way. Either it should be cheaper, faster, or able to absorb more damage, or something.