If the armour-value of gloves are the gloves only, then I would agree. But consider fighting against an opponent wielding sharp weapons, barehanded. A small cut in your hand, and a few fingers fly off and the hand is useless for the reminder of that battle, and you're most likely dead. Now, if you put a pair of chain mittens on your hands, they'd stand up to a lot more punnishment, but it'd be impossible to use a bow. Consider these two sides up against each other.
The problem here is that the armour also covers the whole arm, but not the hands. That would suggest a very small price for gloves\mittens, but there's a tradeoff in weapons you can use.
I would like to see armour buyable in pieces, and some kind of armour check penalty. Like weapon speed. And considering the hitlocations chould be set to implement legs,arms,torso and head separately, it'd be possible to arm yourselves better for your way of fighting, and your own money-bag. However, when considering layering of armour, there should be both flexibility in the system and realism in penalty. So if some maniac would like to wear two chainmails and a panser, then by all means, but the weight and speed should be reduced acordingly. Not to mention load.
Thaniel