Thanks I'm kinda just starting off in the toy industry and I'm still learning about the better choices for materials. Just about all the stuff I've done has been in 1/6th scale and so I really can't offer advice on materials to use for 1/1 scale projects. I did sculpt a frank the bunny mask (donnie darko) in 1/1 scale and I made a mold of it and then a resin cast. If I was to do 1/1 armor that's probably the same route I would take but it would be expensive. If I did that I'd want to sell copies to make back some of the cost for materials.
Here's some crappy pics of that frank mask I mentioned