Any confirmation on this whole "broken AC" debate?

[theguyy]

I know it's probably beating a dead horse but I've read all the major posts about the issue and still have no idea whether the bug exists or not. Just thought it fairly important as it decides all the gear you need for half the classes out there.

Many claim ac is completely broken, others say tanks only need a little to hit the softcap. Others say the naysayers are completely full of it. Any dev confirmation on this? Is it being looked into or? If it is broken, how much so? Can monks ignore their weight penalty entirely? Why is it when I put on armor that says 4 ac it gives me 6?

etc. etc.