Ok so armor is less on a Mage than a rogue and dps is at best equal.I've looked at your armour and I'm sure you have noticed I enjoy evaluating the game and strive to know alot about game mechanics. The armour trade-off doesnt necessarily have to be from survivability to dps. There are other benefits mages enjoy. A big one for me is having options.
Rogues pretty much just do dps. Mages have many options and many usable skills to choose from (I understand that this can sometimes be a double edged sword). Mages also have energy shield and freeze that allow for more hp and a quick heal. Once a rogue engages in a fight we have two options: Kill or be killed. I compare you directly to rogues because I am most familiar with rogues but I strongly believe that I could compare mage to every other class and find that they are not underpowered. I encourage you to get another class past 120 or so before making such a strong offensive move to buff mages.
Now look at auto attack DPS. If a rogues isn't at least 10x higher than a mage something is wrong.
Now mages also have energy issues even with full energization lux. A rogue does not.
Yes a Mage has eshield. But not every Mage uses it, it drains 30 pts, and only let's you take a couple extra hits. Does this make up for less armor? Mabye but at the cos of 30 points. The rogue gets the extra armor free.
Then you still have to account for mages pathetic auto and insane energy issues.