This was kind of assumed...
I tried out what you've said with three regenerating armour and PPB2s... and I filled in the gaps...
Enemy Ship
Light Cruiser
6 ion3 engines
2 Level 2 shiled generators
1 Point Defense1
4 Level 2 PPB large mount
Your Extrapolated ship
Destroyer
6 Ion3 engines
3 Organic3 armour
4 Level 4 APB
And went through Tactical Simulator.
On the first three battles, the light cruiser just ripped it up.
On the fourth one: it destroyed 2 armour and left one.
After the first turn, I checked your ship and found that the two dead OA came back to life and as soon as I fired my PPB, the HP mark went up... then down again into 0
It still regenerates: For some reason it just doesnt show up on the Hit points level mark thing.