The way I imagine Armor Class is more or less like armors "permeability". Better AC = stronger and more resistant armor that can take larger impact. Honestly how could kevlar suit help me not to get shot? It reduces damage from projectile impact but it does not affect if enemy hits me or not. So imho AC should more or less affect final dmg taken rather than chance to hit.
I asked myself the same question, like: "how can i dodge bullets in heavyer armor?" and after giving thought, i found out that AC makes sense in a way.
Imagine a tank.
http://www.defenseindustrydaily.com/images/LAND_M1A1_Abrams_lg.jpg VS
http://www.crypticcomet.com/blog/wp-content/uploads/2008/05/tigertank.jpg The abrams is designed, so that projectiles can BOUNCE off the tank. Even if the projectile doesnt slip off the surface of the armor, its kinetic energy is reduced. The tiger is much more "block-like", every bullet fired at it at 90° will hit for full efect. If its a high caliber anti-tank rifle, the tank is screwed.
So basically AC means the ability to "dodge" bullets, AND have armor thats designes so that bullets bounce off of it, rather then hittig it
Back on topic: Yeah i fully support the suggestion, AC should reduce chance to hit, not subract it from the enemys skill. BUT all armors AC bonus should be reduced accordingly. Its bad enough that we cant get extra AC at the end of a turn, with players having 200+ skills it just makes no sense to have perks like dodger.