Oh wow, this is crazy. Just did the math and with 100 smithing, four pieces of plus 29% smithing gear, makes it so with the shield you just barely hit the armor cap using Ebony armor and a circlet.
Displayed armor rating should be 637, plus 75 hidden armor bonus, then multiplied by 0.12, give you 85.44 Damage reduction.
Oh wow, this is crazy. Just did the math and with 100 smithing, four pieces of plus 29% smithing gear, makes it so with the shield you just barely hit the armor cap using Ebony armor and a circlet.
Displayed armor rating should be 637, plus 75 hidden armor bonus, then multiplied by 0.12, give you 85.44 Damage reduction.