Honestly, the ability to make the armor early on without any materials that need to be sailed is a godsend. Being able to mitigate poison without the hassle of mead will be nice, meanwhile the piercing resist from the chestpiece is going to be great against Draugr archers as well as Fuling spear throwers and might make it viable for quite a while. Also shuts down deathsquitos. Being nimble with respectable armor and resistance to most ranged damage is strong, this might be a perfect choice for lighter melee combatants that don't rely on shields in addition to the obvious uses for archers. I'll be trying it with an Atgeir to see how it fares in the plains.

The fire vulnerability is worth mentioning, but honestly there are few sources of fire damage that can't be easily avoided. I can't remember the last time a Fuling Shaman even got a hit off on me.