Irridium:
Survivability vs ML, Autocannon/Shot
(2/3)(5/6)(1/6) = 10/108 or 10.8 shots / kill
Survivability vs Lascannon, Meltagun, Multi-Melta/Shot
(2/3)(5/6) = 5/9 or 1.8 shots / kill
Survivability vs Plasma, Starcannon/Shot
(2/3)(5/6) = 5/9 or (2)(3.6) = 4.5 shots / kill
Survivability vs Bolter
(2/3)(1/2)(1/6) = 1/6 or (2)(18) = 36 shots / kill
Shield Generator
Survivability vs ML, Autocannon/Shot
(2/3)(5/6)(1/2) = 5/18 or 3.6 shots / kill
Survivability vs Lascannon, Meltagun, Multi-Melta/Shot
(2/3)(5/6)(1/2) = 5/18 or 3.6 shots / kill
Survivability vs Plasma, Starcannon/Shot
(2/3)(5/6)(1/2) = 5/18 or (2)(3.6) = 7.2 shots / kill
Survivability vs Bolter
(2/3)(1/2)(1/3) = 1/9 or (2)(9) = 18 shots / kill
Stim Injector
Survivability vs ML, Autocannon/Shot
(2/3)(5/6) = 5/9 or 1.8 shots / kill
Survivability vs Lascannon, Meltagun, Multi-Melta/Shot
(2/3)(5/6) = 5/9 or 1.8 shots / kill
Survivability vs Plasma, Starcannon/Shot
(2/3)(5/6)(1/2) = 5/18 or (2)(3.6) = 7.2 shots / kill
Survivability vs Bolter
(2/3)(1/2)(1/3)(1/2) = 1/18 or (2)(18) = 36 shots / kill
On to the combinations:
Shield Generator + Stim Injector
Survivability vs ML, Autocannon/Shot
(2/3)(5/6)(1/2) = 5/18 or 3.6 shots / kill
Survivability vs Lascannon, Meltagun, Multi-Melta/Shot
(2/3)(5/6)(1/2) = 5/18 or 3.6 shots / kill
Survivability vs Plasma, Starcannon/Shot
(2/3)(5/6)(1/2)(1/2) = 5/36 or (2)(7.2) = 14.4 shots / kill
Survivability vs Bolter
(2/3)(1/2)(1/3)(1/2) = 1/18 or (2)(18) = 36 shots / kill
Irridium + Stim Injector
Survivability vs ML, Autocannon/Shot
(2/3)(5/6)(1/6) = 10/108 or 10.8 shots / kill
Survivability vs Lascannon, Meltagun, Multi-Melta/Shot
(2/3)(5/6) = 5/9 or 1.8 shots / kill
Survivability vs Plasma, Starcannon/Shot
(2/3)(5/6)(1/2) = 5/18 or (2)(3.6) = 7.2 shots / kill
Survivability vs Bolter
(2/3)(1/2)(1/6)(1/2) = 1/36 or (2)(36) = 72 shots / kill
Shield Generator + Irridium
Survivability vs ML, Autocannon/Shot
(2/3)(5/6)(1/6) = 10/108 or 10.8 shots / kill
Survivability vs Lascannon, Meltagun, Multi-Melta/Shot
(2/3)(5/6)(1/2) = 5/18 or 3.6 shots / kill
Survivability vs Plasma, Starcannon/Shot
(2/3)(5/6)(1/2) = 5/18 or (2)(3.6) = 7.2 shots / kill
Survivability vs Bolter
(2/3)(1/2)(1/6) = 1/6 or (2)(18) = 36 shots / kill
The Works: Shield Generator, Irridium and Stim Injector
Survivability vs ML, Autocannon/Shot
(2/3)(5/6)(1/6)(1/2) = 10/216 or 21.6 shots / kill
Survivability vs Lascannon, Meltagun, Multi-Melta/Shot
(2/3)(5/6)(1/2) = 5/18 or 3.6 shots / kill
Survivability vs Plasma, Starcannon/Shot
(2/3)(5/6)(1/2)(1/2) = 5/36 or (2)(7.2) = 14.4 shots / kill
Survivability vs Bolter
(2/3)(1/2)(1/6)(1/2) = 1/72 or (2)(72) = 144 shots / kill
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Conclusion:
Even with the works, survivability vs Lascannon, Meltagun, Multi-Melta is pretty terrible. You can improve the odds with shield drones, but it just doesn't seem worth it, as that configuraton runs 50 points - or near the cost of another suit.
The only use I can see for the survivability upgrades would be the stim-injector + vectored retro-thrusters for an "in your face" disruption type Shas-O. - Fusion Blaster, CIB, MT. With 4 wounds, it'll take 72 bolter shots wo cut him down. Careful charging will protect him from those insta-kill guns and powerfists. Vectored engines will let him disengage when the PF does its pile in move.
Shield generators are made obsolete by the jump pack run-and-gun.
Irridium armour is useless IMO.