That's fair, but wouldn't it be just swell if you could scroll the mouse wheel to make the AOE smaller or larger to a minimum and maximum?
As far as armor, can't anyone wear any armor as it is? My understanding is that the movement penalty is what balances different sets of armor. I could be wrong on that though.
As far as weapons, that is kind of already handled with the combat attributes (two-handed, one-handed, bow, duel-wield), but it still inherently would lead to close to its current state because physical damage goes well with physical damage and magic damage goes well with magic damage because of the armor system.
And hell, I'd like to have a mace/shield character that can deal good damage with spells. *shrug*