I hope the giant has immunity to heat. I imagine that he'd need it with all the friction produced by those huge pieces of metal scraping against each other, and him without the benefits of anything resembling advanced articulation techniques, powered lubrication systems, etc (all of which would fail when brought in contact with the kind of magical strength necessary to magic up such an item).
I don't suppose he really needs to make this an "Iron Man" powered armor suit, does he?
I believe part of the general reluctance to this idea is that the expectations have been set a bit high with characterizing it as plate mail, adding various situational bonuses, and trying to make it an Item of Power.
The Elder Gruff "Tiny" (who is statted in OW46/142 with Supernatural Toughness - providing Armor 2 - as well as Hulking Size) showed up at the train station in a wondrous suit of crystal plate armor. Mind you, neither the armor nor the "Sword as Long as a Car" are given game statistics. Also, having armor of Fairy make certainly makes such armor easier to rationalize.
But the tank armor sounds like great scenery/fluff, as does the wrecking-ball-mace. Though I may have a soft spot for it, being a veteran of "Fallout 3" and a survivor of its Supermutant Behemoths.
I do feel that the Item of Power discount includes at least some logical potential for that item to be temporarily removed, stolen, or otherwise taken out of play. I take the Sword of the Cross a a very extreme example, with all of the safeguards established in the fiction needing to be reflected in the game rules.