Armor is fairly shitty in Minecraft still. Your best bet is the Powered Armor mod I believe (don't quote me on the name). You'll know which one it is when you search NEI for "armor" and then find the neat looking armor that requires mostly iron and then a circuit or two. It also requires an armor mod station, which you'll know because the recipe requires one emerald along with the other stuff.
Unfortunately, you also pretty much need at least a basic IC2 setup since it requires a bunch of rubber for the circuits (extractor gives 3 rubber per resin), although technically you can do single rubber if you really want, it just takes a lot longer. I hate IC2, so that was kind of a sticking point for me, but IC2/rubber is mostly necessary for Minefactory Reloaded too, so might as well make a few basic machines anyway.
That powered armor lets you install different modules into each piece, such as shock absorbers in the legs or boots to negate fall damage, armor plating, , sprinting, jumping, jetpacks, etc. And of course it doesn't wear out, just loses charge that you can replace. You just have to make sure you don't go over a certain weight (I forget) so you don't get slowed down.
That's pretty much the only mid-tier armor that I can even think of. Stuff like Quantum suits and shit are way, way too far down the line. And you have to kill the Wither to get the necessary piece for getting to the Promised Land, which is where you can get Amethyst, which is just like iron armor but WAY more effective. You won't ever kill the Wither with just iron armor though, unless you get lucky, or zerg rush him, or figure a way to glitch him. Well, I suppose it might be possible with some of the new Ars Magica spells and Thaumcraft and such, and maybe some golems to help you. But that's a lot more fucking work than just making some IC2 machinery, so you're probably going to want to make power armor, which will last you pretty much all game if you really want it to, honestly.
There's no real secret to food either. I'm a fan of potatoes early game if you can get one because they are easy as shit, and do a decent job when cooked, but once you get 3-4 types of berries growing in mass quantities, you'll have so many fucking berries you won't even stop to pick them any more, and if you combine those in a bowl you get a berry medley that not only fills a good chunk of your hunger bar, but is saturating, which means that it fills you above and beyond the end of your hunger bar so you stay at full much, much longer. And they stack now (bowls that is), so you only need 2 inventory slots, one for the medleys and one for the empty bowls that you get back. That's my food of choice, because I hate wasting something like a steak when I'm only down 1 hunger and need to heal. Or, if you have a ton of steaks, just bring extra berries with you as well because each one restores half a hunger bar, so they are easy to use to top you off if you get hurt before you are down enough to get decent use out of the steak.
EDIT: Oh yeah, about the binding, it depends. For a weapon, always paper for the extra slot. For a tool, you probably want something with decent durability. Obsidian is nice because of the reinforced stat it gives (more durability), but I forget if cobalt or manamanamanon gives it too. If not, use obsidian unless you have the cobalt/ardite sitting around doing nothing. You probably won't need that extra mod from the paper on a tool, and the reduction in durability is pretty huge. With a weapon your durability isn't as much of a factor, and you can easily add another level of sharpness from that paper slot. I ALWAYS put moss on everything I intend to keep, even my sword, and if my tool is a little slower or my sword slightly less sharp, so be it. Once you've mined enough cobalt and ardite you won't ever have to go look for it again with moss (assuming you don't lose it). That is worth it to me.