Dragon Armor isn't random. They always are in the same chest's with the same ability. They should've done more with the armor. Like you get a 10% stat bonus for having all the pieces of a set equipped. Though its been said already that the pieces don't help much as you can max most of the skills with books.
Just so you know if you read the red hammer tribe leader's mind, S something, you can open the chest behind him and get a unique dragon cuirass that boosts MP.