I think it could be a good idea, but it would involve changing some other things around. As far as I've observed, as soon as you gain back any amount of armor, you're immediately cured of any relevant status effects. If you're regenerating any amount of armor every turn, then every status effect suddenly has a duration of one turn, which is... not a great side-effect.
I was unaware of that actually. Armour regen curing all status ailments is another issue entirely and I'm not sure I like the idea. Sounds like it would make status ailments trivial especially with Fortify available from the start. I'll play further tomorrow and see how it feels in game.