I like it so far, and it could be interesting if you go into a fight with someone with large amounts of one type but not the other. Another item that I'm sure will be watched closely in balancing, but a positive change to me so far.
I do think status effect resistance will be the key element on if your armor is down, still having quality resist as that really would make non-mage classes a pain, though I didn't seem to have any issues on my first playthrough.