Oh, definitely would be nice to have vulnerabilities ... like leather/wood being vulnerable to fire, while plate or chain would be either ignored by lightning damage or increase damage cause by lightning (10 or 25%) ....
Im just saying that I think magical restistances should be very rare, either a possible perk for high level units, or as a rare form of equipment (truly rare, something in finite supply), or as a result of genetic/magical mutations (see fantasy creatures post) or all three of course.
Now, magic vulnerabilities, of course those can be more common.