PSA Reinforced Leather is better than Banded!

[Baler]

What JimJam said in the OP Is True

Reinforced Mask : 4 AC / 0.3 WT
Banded Mask : 4 AC / 1.0 WT
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Reinforced Gorget: 5 AC / 0.4 WT
Banded Gorget: 5 AC / 2.0 WT
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Reinforced Boots: 6 AC / 1.9 WT
Banded Boots: 6 AC / 5.0 WT

AC does affect how much melee damage you take on P99. The devs have worked hard to make sure it's as classic as possible.
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https://wiki.project1999.com/Reinforced_Armor

Reinforced armor is 13 pieces for 77AC. Full set is 26.1 weight.

https://wiki.project1999.com/Banded_Armor

Banded armor is 13 pieces for 91AC. Full set is 47 weight.

https://wiki.project1999.com/Bronze_Armor

The Bronze Armor is 13 pieces for 110AC. Full set weighs 86