My Realism Tweaks does this globally . . . not individually. But the NPCs do have armor and weapons that are in much better condition than in the default game. One of the things I have really focused on is balancing out the NPCs, so that the player character does not have the huge advantage they had in the default game. Besides being much better equipped, NPCs and Creatures are tougher (healthier) and smarter (due to my Smarter AI improvements). And Combat has been totally overhauled . . . armor protects better, and weapons are more deadly, and my optional weapon effects includes knock downs and knockouts . . . when the NPCs can steal your dropped weapon.
My Realism Tweaks does way more than what you asked for . . . so it may change the game too much for you (although it is somewhat modular, and does now include an in-game options menu).
If you are interested, take a look at my Realism Tweaks [RELZ] thread and/or http://amito.freehostia.com/Fallout/FO-mods04.htm