Does a druid still retain worn armour bonuses when using standard Core Wildshape?
No. In fact this is considered such a powerful option that the standard armor enchantment ("wild") which allows the wearer to retain his armor bonus in wild shape is a +3 equivalent enchantment.
Wildshape uses Beast Shape/Elemental Form etc. Those are polymorph effects.
Items that provide constant bonuses and do not need to be activated continue to function while melded in this way (with the exception of armor and shield bonuses, which cease to function).