There is no armor effect, nor weapon effect for that matter. Only full set effect, and if you dont wear even 1 part of that set, you will NOT get the effect. Thus Torag's will just be a powerful melee armor in that sense (you WILL still get their STATS, but not the effect). For the record, it is estimated that Torag's set will only become more expensive than Dragon if and ONLY if you have trained for at least 1500 hours of straight training, and i am NOT even including food costs here (which would be even less for Torags because of superior stats). That 1500 hours roughly sums to at least 2 melee skills maxed to 99,