Way too many armor magazines...?

They are not based on your points in armor. It is based on the points you put in the base attributes. Read the description.

Originally posted by Kauldric: Ok, I just the description and STR and AGI don't say anything about increasing armor chances. Am I looking at the right thing?

It is in the skill attribute where you are looking at your book levels.

https://steamcommunity.com/sharedfiles/filedetails/?id=3284079397