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The above information is possibly out of date?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. It appears the gain from perception is now 1 point per 8 perception above 20. 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.