It looks almost just like the studded armor, but the top "shirt" part of it is scaled leather, not just some thin leather..looks really good! If u want to see it in the game, one of the bodyguards for jarl Balgruf in Whiterun is wearing one. The guy that tells you the graybeards were calling you after u slay ur first dragon. He has horns on the shoulder, but you can make one without them as well.. I choose my armor for the looks, so I only use this one. Decent armor rating as well is a good thing

so, its basically http://www.justpushstart.com/wp-content/uploads/2011/07/Dovahkiin.jpg one, but with scaled leather on the upper body where its smooth leather in this picture

(scaled, as in overlapping small leather "scales")