I feel like everyone is missing the most important point.
Boob-shaped plate armor is important and necessary because only one gender wears it: it provides a visual contrast between male and female characters. The more similar male character and female character models are, the less point there is in choosing one or the other.
This is the same reason its a good thing that DOS' male PC has such a different body shape from the female PC. That his is a generic 'superman' build matters far less than the fact that the design contrasts well with the female body.
Inasmuch as DOS does different genders well, look to Dark Souls for an example of the inverse. Male and female character models and armor models are almost universally identical, so much so that many players in Dark Souls 2 accidentally changed their PC's gender in the tutorial and didn't even notice the difference until dozens of hours later. If there is no difference, no contrast (visually) between male and female character models, then there is absolutely no point in allowing the player to choose a gender at all.
