I tried reinstalling the patch but that didn't seem to help. I grabbed the savegame editor, so I'll try that next.
Also a correction, I have 5 points in magic barrier. I think that might be why I had this problem. It lloks like each time I remove the belt it takes away 5 resistance points, but when I putit back on I don't get them back because I already have 5 levels of magic barrier. Can anyone else verify this?