I just debugged one in. My current survivor is too big of a wimp to really take advantage of it, but I like the concept. It even works well with the Left side/Right side split for the arms and legs. Using the layering system to move it from one arm to the other also moves it to the other leg and hand, maintaining consistency.
It doesn't actually let you perform blocks though, like wielded items do, does it? It seems to be like armor right now and only blocks damage headed for it's covered area. But I only tried a bit of combat before my wimpy guy had to run away or die.
I think it would be a cool mod for mainline, give it a shot. Maybe if it's in there it will inspire someone to support it in the code, even if it always stays mod content because dev's don't want it in the main game.