My only problem with bracers of natural armor for the same price as the bracers of armor is that it leads to an AC increase for "tank" type characters over characters for whom this type of custom equipment is unavailable.
Normal tank types ignore both the bracers of armor and the amulet of natural armor for the reason that they're already wearing armor, and find the amulet of health a more effective amulet, generally.
Bracers of natural armor would change your normal level 10 tank's AC from 30 (+10 armor, +4 shield, +2 dex, +2 deflection, +2 misc) to 32 through 34, depending on the size of amulet he could afford.
In other words, it essentially lowers the cost of buying AC increases by allowing another bonus in.
Normal tank types ignore both the bracers of armor and the amulet of natural armor for the reason that they're already wearing armor, and find the amulet of health a more effective amulet, generally.
Bracers of natural armor would change your normal level 10 tank's AC from 30 (+10 armor, +4 shield, +2 dex, +2 deflection, +2 misc) to 32 through 34, depending on the size of amulet he could afford.
In other words, it essentially lowers the cost of buying AC increases by allowing another bonus in.