Full plate has an Armor bonus of +8, Mage Armor has an Armor of +4, the 2 are not equal.I didn't say that Mage Armor effected a held weapon, just that it would overlap the beneficiary's hands just as a gauntlet would...
The only interpretation I'm making is that Mage Armor surrounds (as in outlines) the beneficiary in such the same way as Full Plate surrounds its wearer. As I've argued above, if you bought adamantine armor that came with gauntlets, the gauntlets would also be adamantine - which could be used to overcome adamantine DR. How is this not comparable with armor that is made out of force, in that it translates the same innate property to the hands of the beneficiary?
Chain shirt has an Armor bonus of +4, this is equal to Mage Armor.
All armors, except Half and Full plate, you are unarmed when you punch. Which is why gauntlets are a listed item in the PBH.
Ectoplasmic Armor would give you a better argument. It is a 1st level mage spell that grants +9 AC vs Incorporeal attacks only from Libris Mortus.
You could argue that that oil of Ghost Armor applied to gauntlets could do this since they grant ghost armor when applied. The spell is a 2nd level spell in Libris Mortus.
Greater Mage armor in Spell Compendium, a 3th level spell grants +6, still not up to Half or Full plate.
We then get into higher than 3rd level spells that cannot be put into potions without finding someone with rare prestige class that allows it. There is the Master Alchemist PRC in Magic of Faruen that can put up to 9th level spells into potions. A good DM will calculate any potion made by such a person as normal then double or triple it due to rareness.