It's the half armour as far as i'm concerned - if i'm allowed to use the term here, its FUGLY. What I do to my knights, I either use the full body armour (ie no belt) or else go for an early medieval look without the plate armour.
And while I'm at it, I wish PM could start making an oversize 'diagonal' pirate belt, to use with fat klickies wearing chest armour. You know ... like the conquistador special using a 'fat' belt over his armour, this one would allow fat klickies to use a belt over armour too. It would come in handy for my fat spanish troops.