I agree with Gargoyle. AC too high does sap some of the satisfaction out of the game. I started playing Next and Pathfinder back to back, and our group kind of laughed a bit when it took us 4 or 5 rounds to kill 6 kobolds in Pathfinder because our party was not all maxed for attack bonuses.
And why is that bad? Why should the default be that the PCs slaughter everything they meet in seconds?