Well, a LOT of the comments in the files are useless because they're hold overs from earlier games (Seriously, this came up earlier on, and I ended up having a pages long shouting match with someone who was certain that something had to be a certain way because the comments said X, referring to a file that doesn't even exist in M2).
And the Aztecs have a couple of very good two hander units, and the spanish have Tercio pikes.
The Moors have terrible infantry because they're meant to rely on their cavalry and camels. Although their Urban Militia is actually kind of sweet.
Again though, I don't feel that shields need to be immune to AP missiles in order to make shielded units significantly better vs arrow fire than unshielded units. An advanced plate wearing, shield carrying unit is going to be significantly more resistant to AP missiles (From the front) than an unshielded, advanced plate wearing unit. That's balance enough, imho.
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