If they --
-- raise the armor caps quite a bit, so that you can get to around 60-70% resistance to incoming physical and spell damage,
-- make these caps achievable only in heavy armor, and add further mitigation to blockable damage (semi-automate blocking, in other words)
-- they will have created characters that resemble a class from my favorite MMO of all time (City of Heroes). I'd cap resistance at around 70% because self heals are relatively easy to get in this game. The way the math works, resistance starts to make a real difference when you get above 50%.
That kind of character might be tough enough to eventually whittle down VR mobs, and make that content more approachable; I never made a character like this expecting to kill everything fast.
Hircine loves me, this I know,
Your intestines told me so.
Quæ tam fera immanisque natura? - Cicero