You've got to look at more than just the pure statistics of it all as well. Depending on whether your session is going to be more RP or combat based can determine how much you need to put into your background. For a purely spell based sorc I would avoid physical armor, even a mithral chain shirt. On a broad spectrum, a majority of wizards and sorc will rely on spells and ingenuity to take care of most situations with little need for physical protection. IF something were to happen then there are obviously several magical protection options to fall back on, if you don't choose to just invis or fly away.
Now, in my personal experience with making characters I usually go out of my way to make unique (even at the cost of certain beneficial aspects), I have had 2 sorc that wore armor. One is basically a copy of the other from an early game, and the latter has been built for an upcoming local game I plan to attend... next week actually. A sorc with draconic bloodline is very commonly used as a setup leading to the Dragon Disciple. In a 5-9lv campaign i'm heading to, i have a lv7 sorc (5sorc/2d.disciple) who wears an enhanced mithral shirt as he takes pride in his draconic heritage to combat some foes up close and personal. At lv7 he has 11AC without spell bonuses. Though the armor can be restricting and offers some drawbacks, it fits perfectly into his personality and background.
A long example maybe but it illustrates an example where RP can trump min/maxing your char for performance. In a well rounded group min/maxing shouldn't be entirely necessary since others should be able to fill in any gaps in performance.
