stormrage: yes
Latinikon: I think it is being worked on, and I think I know by who, but I shan't say, if I did you would be pleased though. I think this person is only redoing textures on the existing models. I have redone models and retex'd one or two of the helmets, and messed around with the textures on some of the armors, (both the brigantine and the laminar armors are no longer pink) but I haven't gotten serious about do that or remodeling armors.
There are plenty of mods out there that have variations on many of the older armors. You could compile them (for personal use) fairly easily. Or you could do the new models and retextures yourself. There are plenty of no cost programs, and many tutorials if you don't have the ability already.