Lo-Fi Games

I haven't been able to find anything relating to what the various stats armour gives you, and how it affects damage. So here's my completely baseless conjecture, if anyone can correct me or fill in blanks, that'd be great.

Blunt Resistance - Displayed as 0.X, this stops X% of blunt damage. All there is to it.
Cut Resistance - Like Blunt Resistance, displayed as 0.X, stopping X% of cutting damage. However, this is usually followed by (Y% Stun), which is the amount of damage that isn't negated completely, but is instead converted to stun damage.
Coverage - This is the likelyhood that, when struck on a location that the armour covers, the armour will actually take affect. For instance, if you're wearing something with 95% right arm coverage, there's a 5% chance that you'll take normal damage when struck on the right arm. This represents the fact armour isn't perfect, and, in the above example, you weren't wearing a glove and your hand got stabbed.
Athletics Effect - This is a multiplier that affects your maximum run speed. Smaller multiplier, slower running.
Combat Effect Speed - Similar to Athletics Effect, but affects how quickly you attack and block.

As I said, this is mostly baseless, I haven't run tests to confirm, it's just what makes sense to me looking at the numbers. If I'm right, great. If someone knows better and can correct me, even better. Thanks

Even though you say its base less your pretty spot on. Although, In regards to the Athletics skill, It not only lowers the overall movement speed, It also lowers the rate at which you gain the xp for that skill. So if you are wearing just a pair of pants (which would make you fekkin insane lol) that has an Athletics multiplier of 0.94%, you would inturn gain the xp at a 0.06% less rate. Coupled with other clothing this can really lower the gain rate.
I believe its the same with the combat skill effect aswell, but I only use light armour so I don't really have anything to base that on.

Thanks for the clarification. I say baseless because I'm not a programmer, I haven't looked at the code, and I haven't performed hours of testing. It was all just what made sense to me, but I wasn't sure. Hopefully this will be useful to others, because not knowing what everything really did made choosing between two similar armours tricky.