I would really appreciate if the armor were like in all the other TES games - practical and not trying to simply show off briasts/other parts of the female body. After all, women look gorgeous in regular armor as well and there isn't a reason why TES should try these cheap tricks. Instead when I see all these half-naked girls in games like Diablo 3, TESO screenshots, Terra and whatever you can think of, it's really uncomfortable because I just feel like they are being sold just to cater to an immature audience. This has always been a staple of the Elder Scrolls series, so why give the female characters scanty, useless clothing mixed with armor now? Especially while male characters get all the awesome, spiky armor where you can hardly see the person's face because they're so much covered in it. It just makes the players feel like the new developers are moving away from the feel of TES even more, which certainly doesn't help since we are supposed to be your core crowd, aren't we?
When I pick a female character or see one, I don't want to feel like they are about to go to a cosplay beach party. I want to have real, functional armor like the male characters do.
So please don't try to turn female characters into simple eye candy just because it's a popular thing to do nowadays. Women want to have awesome armor too, they don't want to look like pormstars.
If you still go through with this idea, then be fair and do the same for the male armor.

How would you feel if the male characters could only choose from loincloths mixed with pieces of armor or fishnets and boa feathers? That'd be a good equivalent to boobplates, bikini chainmails and such. http://humon.deviantart.com/art/Skimpy-armor-for-dudes-289282243