https://www.project1999.com/forums/s...d.php?t=320936
Zarza parsed +700 displayed AC as equivalent to +63% HP. At 3000 HP (full cleric buffs or self buffed rune/bedlam) that is the equivalent of +1800 HP, or 1 AC = 2.5 HP. Plus the extra AC will make runes more effective, and that's game displayed AC not raw item AC. So DMN is more or less correct IMO.
AC in fact works great for warriors here and I always thought people should value it more. I always had a soft spot for Sakuragi's Orb of the Deep Sea.