http://www.gamefaqs.com/pc/63576-fallout-2/faqs/29609Explains AC, DT and DR in terms of Armour, but it correlates with ammo.
AC reduces chance of getting hit. Not really part of damage formula.
DT minuses the incoming damage.
DR reduces damage as % after damage passed through DT.
DamageMod (DM) also changes the damage of the gun. Not armour parameter but still counts.
I'm guessing the way they do it is (BaseDamage * DM - DT) * (100 - DR)/100 to give final damage output. I if it comes out that final output to be 1 or less (even -ve) then damage is always 1 from what I can tell from NPC hits. Of course ammo modifies it also and would mean DT and DR would increase or decrease on the armour. I'm guessing DT can go -ve and DR will only hit as low as 0%. Problem is I don't know what armour bypass is. Does armour bypass reduces DT and/or DR by a %?
E.G.
Armour Has: 5/55% (5 DT / 55 DR)
Ammo Has: 30 DT / -30 DR / 2/1 DM
Gun does 100hp (ignoring dm range)
Final damage:
(100*2/1 - (5 + 30)) * (100 - (55-30))/100
= 124 (rounded)
* Keep in mind if value is 1 or less it will always be 1hp damage.
** I could be horribly wrong and ammo DT DR modifiers are % modifiers of respective properties rather than simple values. Since DT of -100 on ammo would make the damage more than the max intended value. So probably ammo modifiers are ALL %. That is, -100 DT and -100 DR ammo would mean the gun does base damage * DM regardless of what armour they're wearing, since all of the resists will be negated.
(100*2/1 - (5 + 5*0.3)) * (100 - (55 - 55*0.3))/100
= 119(rounded)