Well fuck, that wasn't how I thought it worked. Good to know now at least.
Making decent progress; killed Havel, the hydra, the gold (?) golem, and Sif. Currently mucking around in Sen's Fortress. I went backActually starting to whilttle down the areas/enemies I have left, or at least the ones I know about I suppose.to the Aslyum and looted it and killed all the knights, but I have zero fucking clue how you're supposed to kill that boss. I couldn't even tell what it was doing, with every swing there was an explosion or something, and regardless of how far away it was or if I blocked or whatever it was totally destroying me.
Oh also I discovered the joys of the >25% roll. I was only worrying about keeping under 50%, but now that I found that I can never go back, especially once I realized armor is in large part useless unless you're going with a heavy build or something. Especially in my case since I do a lot of parrys and backstabs. Rolling with whatever the ninja outfit is called with an Iaito+10 and the Crest Shield and fucking shit up pretty good now.
I would say that shields are more important than armor at this point... depending on what you have, you can get shields that block certain elements, or for example the artorias greatshield that can stop Smough and Artorias themselves dead in their tracks. (except for elemental attacks like Super Smough's lightning..but then, get a lightning ring and you're set).
I usually strike the balance of medium roll with decent armor and a good shield. You can get through the game fine with a good shield and medium roll. That's probably why I'm interested in the Artorias set, it's not the best defense but it's good enough, and is light enough to get fast roll at a higher level.
Perhaps that's what I'm going to do if I do another clean run...go fast roll with light armor and a good shield.