Honestly, I think the new armor looks way too weird and futuristic. Over-angular, too. It just looks plastic and ugly. I absolutely loved Reach armor, It looked practical, military, and badass all around. The armor made Spartans look like walking tanks/battle-hardened commandos, while Halo 4/5's makes the spartans seem like flamboyantly gay Power Ranger space explorers from a children's cartoon. The only benefit is that the color fits, and even that takes away the badass look of the armor and makes it just look individualistic. It's a damn shame that the gay armor is going to be in Halo 5 (and probably 6) too, and there's nothing we can do about it.
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It fits the Spartan IVs quite nicely I think. IVs aren't the kinds of killers that IIs and IIIs were. I think it's only fitting that they should seem a little more polished and neat, instead of dark and gritty like past Spartans.