Every time I go into the hall of heros and talk to the cobalt guy, or even hear anything referring to the cobalt line, it's supposed to be very versatile, and reliable while not specializing in anything either. So what I want to know is why is it's only defense again piercing? That makes it not so reliable against the other 2/3rds of monsters that you'll be facing. What I think is that the cobalt line's defenses should be changes so it has a small bit of resistance against all three, so it can actually by really versatile and reliable, though still not having as much defense in any one damage type as say a wolver set would have against piercing.
I know a change like this would certainly make me want to wear Spiral knight's mascot armor set a bit more often.
Cobalt has a higher normal defense than any other armor, with the exception of Plate Mail.