I actually prefer the attribute method, IF things are balanced so that, hey, if I want to be a paladin in leather armor so I can do great damage or healing, etc, it works out. It sounds weird from a lore perspective I agree but it will make individuality of specs so much more fun than on live.
To meet half way, I previously recommended that attribute diminishing returns be based on the number of points raised and not total attribute score. That way, a paladin for example could start at +10 endurance, while a wizard starting at -5 or whatever would have a much harder time reaching the same armor levels. Right now the wizzy has a slightly harder time getting there but not much since very little total point investment is required to raise attributes up to +10 or so.
Also, do note that the system still favors melees getting better armor, as endurance will also increase stamina regen. Im sure the new system could cause some balance issues for sure (would a disciple in full armor be op? no idea but i can see endurance being a very valuable stat to them), but personally i am willing to have some funky balance for awhile to increase the diversity of play styles attributes will bring. I mean we have lived with dragoons forever which, from a pure ganking pvp perspective, are stupidly OP.