Okay, time for some examples.
A Rare 50 Explosive Cannon does about 1500 damage on a regular, non-burning target.
Bolster scales as follows:
11.9 - 16.7
12.7 - 22.4
13.4 - 27.3
13.4 - 35.3
27.6 - 40.0
I'm thinking that the "base values" for DR could be 25% of those, so
Hull Armor would be, roughly
3.0 - 4.2
3.2 - 5.6
3.4 - 6.8
3.7 - 8.8
6.9 - 10.0
There would be four talents for it, similar to Turbo, which would each add 0.5% DR.
So let's say I swap my Level 50 Epic Turbo for a Level 50 Epic
Hull Armor, and keep my training - that gives me
10.8% global DR. A hit that would normally do
2000 damage on me now scores
1784. That's a nice little bonus to my durability.
But if you get to use the perks as you laid out, that would reduce, for example, Cannon damage by
32%. Suddenly I'm reducing Cannon damage by (10.8+32)% =
42.8%. That's basically like having a
maxed-out Legendary Bolster Armor running all the time. That
2000-damage hit would now do only
1144. And that's with only one
Hull Armor. Stack multiple, or have a friendly Aura (or just your own
Bolster Armor if you're a Guardian) running on top of that, and you're going to chop that down even more.
I think we'd need to have (I know, I know!) item-specific perks, that would increase the damage resistance by smaller amounts - perhaps the perks would offer 1-4% reduction for the damage type based on rarity. Or perhaps they would offer both benefits and drawbacks at the same time (eg: "Reactive Plating" - increase AoE DR, reduce Incendiary DR)
There would also have to be a total cap on the damage reduction that could be done -
refer to my earlier post on this - in order to avoid someone stacking five
Hull Armor items on a Defender and getting as close to 100% DR for all types as possible.

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