Honestly, while this is great and all, I find that, in general, you want to put your points into the Shield / Flux skills, not the Armor skills. You need your Captains to win the Flux war first and foremost; they can do that by doing damage first, doing more damage, particularly to shields, and then having their shields outlast the other guy's.
The only exception to this is when your shield's arc is too small to take much fire from the flanks; then you're simply going to need all the Armor you can get, because you're going to take hits.
Past that, if it's anything past a smallish encounter, I honestly don't think that the Vanilla skills do a whole lot to slow down the inevitable, even though they look great on paper. If your ship is Flux-locked, it's irrelevant that you have awesome Armor, if your opponent isn't locked and has enough Flux left to keep shields up and attack (let alone if they're also able to push out and Vent or can kite you).
Armor / Hull's lack of self-repair makes it considerably less great than shields in long-term fights, even moreso if you're dealing lots of EMP damage (even in Vanilla, the AI will occasionally show up w/ Herons loaded to the gills with Lightnings, which is amusing vs. Low Tech).