Well, yes... and no.
Obviously, wearing armor has some advantages. Historicaly people has been wearing armor to avoid being hurt. 60 BD is a great number, almost needed, specially for a first-liner. In combat, is almost a must.
But it comes with disadvantages, too. First, you must spend points in the armor skill, and more for the most protective ones. Second, wearing that defensive yet cumbersome piece of metal incurs in a good penalty on all your maneuver skills. A fitted plate armor gives you a -20 to all your maneuver. -40 if it´s unfitted, which is a lot. More if you have not enough ranks in the Armor skill... And finally, the +10 PP casting penalty. You better don´t ever think on casting spells.
I really believe that armor is pretty balanced, but yes, it is a necessity for a warrior or those who pretend to be in the first line of a combat. Just forget to run if things go wrong.