I got the armour a while ago, and all was well until I went into the castle. When Elona sent my character to the dungeon and his equipment was stripped of him, I obviously sent him to reclaim it.
Upon putting the armour back on, he now has lightning, fire, poison and spirit resistances of approximately -524000! <img src="/ubbthreads/images/graemlins/disagree.gif" alt="" />
One hit from a steel archer kills my 30th level warrior who prior to this had a fire resistance of about 80.
I can't revert to an earlier game-save btw, as I don't have one...