This game has the best portrayal of power armour Ive seen in any game. Period. Aside from having that sixy X-01 from Fallout 2, the suit is truly a man-portable tank. And bringing a tank to a raider fight goes exactly how it should go.
Its got some pretty high upkeep, but I can still manage to keep mine repaired and fueled. Its entirely viable to be piloting it constantly across The Commonwealth. I'm sure it could be said that its unbalancing, since with some minor tactics I can survive any fight, but then if I am not careful in how much damage I soak up I could run low on the supplies I need to maintain it, so there's that economy layer to it.
As my character evolved into a full on Brotherhood Knight with all of the abomination hatred and technology lust that comes alongside it, being constantly in a suit is a natural fit. I did wait until around level 35 to step into that suit, which meant I had a backlog of fusion cores to help me along, so maybe its something that becomes situational when you first get it at the start of the game, but meh, im happy with how it is right now.