Like I said, don't need the armor, just a bonus if you find one. Good resist on armor is not needed if you have rubies. rubies are enough to get you to 100%, everything else is a bonus.
EQ damage is not bad, raw damage is about 1/2 of the maxed ww but if you count in the radius and the fact that the dmg is elemental (so not affected by armor) is actually pretty good.
I was able to consistently oneshot the bosses (including void dragon, who has the most hp) with meteor from the point I got it, provided I do full buff/debuff, so not sure how much better it can get. Can do that on turn 1 without any prep as well if one char does debuff and the other buffs up and attacks. On turn 2 when glass cannon kicks in a single char has enough ap for the combo. It also easily kills all regular mobs in the vicinity, having almost twice the radius of WW. I wouln't define this as bad. Like I said, I have access to both, in most of the situations meteor is better.
In terms of physical res: 200 armor means 1/3 physical dmg, combine that with 75% block and you take only 8% of physical dmg. Now I'm pretty sure 100% block is also possible, but that's beyond the point. Like I said, mobs just don't have these stats. The dragon has 200 armor though if I remember correctly. Death punch works very well vs high armor because while being physical, it ignores armor. 200% elem resistance enemies are plentiful, just not all elements at once (although there are few exceptions).
Don't have time for the weapon pics now, will post later