To add to this:
The fact that all mages need to pump up Air in order to takeout magic armor is pretty lackluster in giving us a way to address the armor system since it kills diversity to basically force our hands.
If they want to address things, but keep the armor system: they really need to look at skill point investmets and talents.
Making Pyro give 10-15% damage to fire would be a start. Increase Air to 20% to magical armor.
Polymorph shouldn't give a free attribute or if it does, make it give one automatically to a range of things. It should encourage greater diversity rather than more specialization.
In short, the armor system and magic wouldn't feel so bad if the skill points and talents invested in actually felt desirable and competitive.