Can a sword and boarder make it ok with wearing low level light armor such as hide, fur, etc.?

Yes. Block makes your armor skill practically superfluous if you do it right, and since Stamina is such a large part of the Block playstyle, eventually getting Windwalker in the Light Armor tree will just make you OP as all get out.

Nice. I already put two perks into heavy armor, but I like the look and feel of light armor better - especially the low level stuff. I really wish we could reset our perks. Ah well, maybe I will use a heavy armor shield, and those perks with help it increase my AR even more.

If you're on the PC, you can use the console to re-arrange your perk points.

Xbox.

When I can afford to build a PC for Skyrim, I will be doing so.