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I think most people will lean towards enchanted armors over their mundane counterparts, for a better AC.

But, what is really more important, the better AC (less hits in combat), or the ability to wear a Ring/Cloak/Amulet of protection which will better your AC (although probably not as much as the best enchanted armors), in addition to making your saving throws better (which won't come into play as often as regular combat, but can prove to be more deadly at the wrong time).

A point in the "enchanted armors" favor isthat many have additional bonuses on top of the better AC provided.

Magical armor for sure. Although a few times I had a fighter wear regular full plate and a ring of protect +2. With a good dex and some misc AC bonuses this can be pretty good. Get the Ease-of-use mod and wear magic armor and rings at the same time!
The latter is supposed to be what the pen and paper D&D allows.

Magical armors are the skins of survivors.

Items that can be found later in the game (when you actually need batter saving throws) can more than make up for the minor saving throw bonuses lost by not being able to use rings/cloaks of protection.

Also note that gaining levels improves your saving throws dramatically after a while. And what you lose in saving throws from rings and such you make up for with supplemental protection spells, and mounds of AC