In my opinion this is how the combat system should be set up.
Weapons should have two modifiers. Weapon speed, already is there, and weapon damage, already is there. Weapon speed should modify the chance to hit, weapon damage should modify the damage the weapon can inflict. These two attributes should largely be inversely proportional.
Armor should have three modifiers. A dodge rating, a protection rating and a magical resistance rating.
Again this should work in an inverse relationship. As the protection rating goes up, the dodge rating goes down. How magical resistance is related to the other two is not something I would like to comment on.
This right here adds all sorts of tactical and strategic depth to the game.
At the mechanical level, add a first strike ability, give it to spears. Change the current, I hit, damage is dealt, you hit, damage is dealt system as it favors one hitter quitter type weapons too much. Change it to I hit, you hit, we both receive our damage. Spears become useless late game, so you kill two birds with one stone. Now you give spear using units a tactical advantage in that they cannot be counter attacked on their first attack, and you fix the balancing nightmare of front loaded damage weapons.