This pretty damn neat
The armor might be tricky tho and I think the dev will have a hard time implementing the weight values but still it could work.
We would have to think though. How will the player get to use these different weapons and armors and fighting styles. They could just be acquired through upgrades but I think there can be a variety of other ways. Like selecting it in a 'Character Making' screen or something. Weapons, shields and armor can maybe be acquired as drops from enemies which possess em.