I can appreciate my form and use it (whatever that means) and still want to cover it in a thick layer of nice, protective metal if I'm going to go out fighting, because, erm, that's not really time for being a fashion plate? I do like armour that looks good, even to the point of sometimes picking an armour I like the look of over one with slightly better stats/enchants (e.g. I switched back to my favourite armour - Spellbinder Runic, I think it's called- because I didn't like the look of the enchanted steel plate I found, even though the enchant outweighed the slightly worse AR) but 'looks good' doesn't have to mean 'is revealing'.
Also, if you mod, Spellbinder Runic looks pretty good, IMO. It has a bit of a curve to it, but nothing exaggerated (it is very covering, though, to the extent that it appears to have some sort of turtleneck going on...)

Alas, in the boring real world, chestpiece of women's heavy armor would look like the http://www.uesp.net/wiki/File:SR-item-Dwarven_Armor_Female.jpg. That i never use in the game, because it's too ugly 


