Armor class is reported in your score (as 'Armor Rating') from level 2
on. The lower your Armor Rating the better protected you are.
Armor Rating is affected by items you wear, some spells you can cast,
and also your dexterity. There is a small bonus to ac where as the
more you level, the more ac you will receive. The BATTLE TRAINING
skill for characters from Klein also has an affect based upon a
character's armor rating.
Armor Rating is currently capped at 250.
At level 50, AC starts at 83 without stats or equipment factoring in.
AC decreases by 1 point for every 2 points of dexterity over 40.
AC decreases by 1 point for every 2 points of perception over 30.
AC decreases by 5 points if you have at least 20 points in strength, dexterity, and constitution.
AC decreases by 5 points if you have at least 40 points in dexterity and constitution.
AC decreases based on AC bonuses from worn equipment.
AC decreases based on bonuses from skills and spells.
---- NOTE ----
The above information is possibly out of date? From examination it appears the rule that is not true is the 1 point per 2 perception over 30. While there does seem to be some gain to AC from perception it is definitely not this much. This may be the case for certain fighter types, or there may be some other factor I am unaware of but a quick test with the 10 perception buff will prove this to anyone curious, once I have more information I will update this and offer a code change for the builder.