In other words, if each of your resistances provides 20% damage reduction from it's respective damage type, is it the same as having 20% damage reduction from armor?
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Holy damage cannot be resisted I think. – deutschZuid May 24 '12 at 1:25
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@JamesJiao Arcane/Holy Resistance – user9983 May 24 '12 at 1:28
There is no damage type that cannot be resisted, so yes, 20% reduction from resistances is equivalent to 20% reduction from armor.
And as fbueckert pointed out, damage reduction is taken sequentially, not additively.
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1
As of patch 1.0.2, the attacks of Lacuni Huntresses found in act 2 ignore all armor and resistances. But flat damage reduction (ie, all melee damage reduced by 20%) works correctly against them.
This includes damage from mortar, plague, desecrated, arcane enchanted, frozen, reflect damage affixes if they are spawned with them.