So after watching the G4 demo again, I noticed that when the UI is shown they scroll through some armour.
I went back and had a look and noticed that there is a piece named 'Elven Armor' - I tried to pause to see the 3D image but they skip over it so quick (trying to hide something?) it's very hard to see.
If you watch 3:22 of this: http://www.youtube.com/watch?v=MjbfLaOjgzg&feature=channel_video_title you can see.

Now - this might indicate top and bottoms are clumped into one - I thought about this but if thats the case then why is the 3D image of just the cuirass? clearly the 'model' for the armour isn't one piece so why would it be clumped? you might notice a small icon (looks like a triangle) next to the armour - do you think this is armour grouping in play and we might actually have separate tops and bottoms or do you think this is yet another simplifcation we're getting this time around.