I've been running flak, and even the very first level is often enough. No more 1-shot death from lightning HEAT rounds, or that mine someone hid around a corner. No instant death from rocket primary splash, no more instant death from grenades (unless you're right on top of them). It's definitely awesome, but I do notice the lack of protection nanoweave offers. I absolutely love killing crappy lightnings, though. I can't tell you how many I've killed because they hit me once and assumed I was going to die.
I prefer ASC. Nanoweave is more forgiving but I want to be punished whenever I make the mistake of taking an unfavorable fight head-on. ASC gives me lower downtime, allows me to keep on the move better and attack more often.