If I equip all of my Iron Banner armour, I actually drop about 3 light levels on each character. Haven't raided in a while to gain gear for infusion. This doesn't bother me though because I got the titan and hunter helms above my current raid helms LL's, and the titan especially looks incredible, plus at around 313 light, all 3 characters aren't losing any significant ground regarding being able to take on all end game content if I chose to run in all IB gear. Titan and Hunter have been at 316 for a month though, and Warlock at 313-314 for the same. I'm just glad that they made something of an effort with this armour and not just rebrand vanguard armour as IB stuff. Well happy with how freakin' awesome my titan looks!