First off, am I the only one who thinks Rukkirii is cute as all hell? I'd pull the equipment set off her any day
I too do 3D modeling. I can't say I have done any equipment sets for a video game but what I can say is that breakdown above is way off. Keep in mind this company does have high visual standards. Look at square films and Advent Children or even Spirits Within. Different teams but still the same belief on visual quality.
Concept art would be more like 4-5 weeks as it has to be approved by everyone and fit the future development in the long run. They make a R20 piece look way cooler than a R50 and what would happen?
Wireframes are quick and easy and should not even take a week.
Actual modeling should only take a week to iron out as well.
General Physics and Inside dimensions are already figured out for each race/size. Rigging individual armor pieces may take a few weeks if they change how elements move and what effects gravity and motion have.
Texture and lighting maybe 2-4 weeks
Final tweaks maybe another 2 weeks
Final Approval 2 more weeks
So I can see 3 months but 6 is really a stretch unless it gets hung up pending approvals from different people. Knowing business, a lot of processes have to build in padding to development. I know I double time estimates when doing large scale web design.
P.S. Rukkirii if you read this I meant no offense

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