My character is using a Light Armour and Block combination, and it's working wonderfully. My main 3 skills are LA, block and one handed, and I've perked up block and LA to the extent that blocking an attack now does me practically no damage, and shield bashing and power attacking works wonderfully (and I haven't even picked up the faster stamina regen perk yet!).
This combination makes for much more exciting combat, where instead of going in hack'n'slash with nary a thought to your safety, you dance around your enemy and wait for the perfect moment to strike. I heartily recommend it as a fun, challenging and rewarding combat style
