Heavy Armor
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Iron Will (Iron Armor)
 +25% Health and Stamina Regen
 +25 Health and Stamina
Steel Strength (SteelArmor)
 +50 Carry Weight
 +25% Bonus to two handed damage
 +25% Bonus to block
 +25 Stamina
Imperial Training (Imperial Heavy Armor)
 +25% bonus to block and one handed
 +25 to health and stamina
 x2 damage to enemies wearing Stormcloak armor
Orcish Resilience (Orcish Armor)
 +25% Damage resistance
 +25% bonus to health regeneration in and out of combat.
Steel Knight (Steel Plate)
 +25% Resistance to poison and Disease
 +50 Health
 x2 Damage to Undead, Ghosts, and creatures.
Infernal Armor (Daedric Armor)
 +25% Fire resistance
 +50% more damage with Daedric Artifacts
 +50 Health
Dwarven Craftsmanship (Dwarven Armor)
 +25% bonus to Alchemy and Smithing
 +25% resistance to magic damage
Blades Blessing (Blades Armor)
 x2 Damage to Dragons
 +25% resistance to poison
 +25% to one handed damage
 +25% Resistance to magic
 Ebony Shadows
  +25% bonus to heavy armor
  +50 to health
  Muffle
  +25% bonus to sneak
Iron Strength (Iron Banded)
 +25% bonus to unarmed, one handed, and two handed damage
Dragons Resilience (Dragon Plate)
 +25% resistance to physical damage, fire, and frost
 x2 Damage for Shouts
Falmer Blood (Falmer Armor)
 +25% bonus to sneak
 +25% bonus to alchemy
 +25% resistance to poison
 2x poison effectiveness
Emperors Favor (Penitus Armor)
 +25% health regen in combat
 +50 health
 +25% one handed damage
Ebony Shadows (Ebony Armor)
 +25% better stealth
 +50 Health
 Muffle
 x2 Sneak attack with ebony weapons
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Light Armor
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Stormcloak Commander (Stormcloak Bear)
 x2 damage to enemies wearing imperial armor
 +50 health
 +25% bonus to two handed damage
 +50% stamina regeneration
Dragons Cunning (Dragonscale Armor)
  +25% better sneaking
  +25 Light Armor
  Reduces Shout Cooldown
Elven Grace (Elven Armor)
 Double damage to non elven races with elven weapons, Quadrupled if player is elven.
 +25% Archery Damage
 Permanent muffle
Forsworn Oath (Forsworn Armor)
 +25% resistance to magic
 +50% bonus damage to all races but Bretons
Prismatic Protection (Glass Armor)
 +25% Magic resistance
 25% reduced spell casting cost for all schools
 +50 Stamina
Hunters Boon (Hide Armor)
 +25% bonus damage with bows
 +50% stamina regeneration
 +50 stamina
 x2 damage to beasts
Imperial Scout (Imperial Light/Studded)
 x2 Damage to enemies wearing stormcloak armor
 +50% Stamina regen
 +50 Stamina
Assassins Leather (Leather Armor)
 +25% Better Sneaking
 +25% One handed damage
 2x backstab damage
Goat Strength (Scaled Armor)
 +50 carry weight
 +25% two handed damage
 +50 stamina
Stormcloak Scout (Stormcloak Armor)
 +50 Stamina
 +50% stamina regeneration
 +25% bow damage
 2x damage to enemies wearing imperial armor

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2.0 Update
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Descriptions! all effects now have full descriptions in the active effects tab.

Blades armor now doubles damage to dragons
Infernal Armor changed to make Daedric Artifact weapons deal 50% more damage.
Dragonplate armor now gives double damage to shouts
Dragonscale now drastically reduces shout cooldown, instead of fortifying speech
Dwarven Armor now gives x2 bonus damage with dwarven weapons.
Ebony Armor now gives x2 sneak multiplier for Ebony weapons.
Elven weapons now deal double damage to non High Elf races, quadruple if player is a High Elf.
Falmer armor doubles created poisons effectiveness, stacks with alchemy perk.
Changed glass armor from fortify illusion to Universal 25% reduced casting cost.
Changed steel knight to give +50 health instead of speech, and double damage to undead, ghosts, and creatures.

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Compatibility Version
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Credit to Snipey360 for the scripting, you no longer have to have the first perk in the armor skill trees to obtain the armor set bonuses, making the mod universally compatible with any mod that affects skill trees.