Yeah. If you want the specifics, Fists of Steel adds the armor rating of your gauntlets to your unarmed attack. Well-fitted gives you a 25% armor bonus if you're wearing all heavy armor, and Matching Set gives you another 25% bonus if you're wearing a matching set (obviously). You can eventually hit harder, and faster, than a daedric warhammer. This'll boost the armor rating of your gauntlets quite a bit, but you'll still hit pretty hard without those two perks if you use enchantment and smithing to their utmost.

But yeah, heavy armor, enchanting, and smithing is vital. Everything else is optional. I chose to specialize in restoration, as you'll take a lot of damage getting up in people's faces.

I thought fists of steel only gave you the gauntlet armor rating bonus. Why would well--fitted help with unarmed? Unless you mean just for defense in which case that makes sense.

Edit: Never mind, Well-fitted would give the gauntlets a higher armor rating - I get it >.< thanks

its doable until around level 20-25, then it scales 10x worse than destro. The perk needs to take into account upgraded armor values, not just base.

I wouldn't say fantastic, but definitely passable.