Does anyone ever research Armored Cavalry? It's a very late game tech, coming after the tech that gives you War Chariots, and it only yields Knights. By comparison, Knights have 1 less strength than War Chariots, in return for only a +10% withdrawal chance. In addition, that's the end of the tech branch, so it doesn't open up anything else.
Frankly, Knights seem less attractive than War Chariots, so why would anyone research Armored Cavalry in preference over something like Rage, Mithril Weapons, Strength of Will, etc.? Those other techs are about the same in terms of tech requirements, but they provide additional options, rather than a weaker version of an existing option. I always get to the War Chariots and then move on, leaving the Knights stranded on their own little island of futility.
Frankly, Knights seem less attractive than War Chariots, so why would anyone research Armored Cavalry in preference over something like Rage, Mithril Weapons, Strength of Will, etc.? Those other techs are about the same in terms of tech requirements, but they provide additional options, rather than a weaker version of an existing option. I always get to the War Chariots and then move on, leaving the Knights stranded on their own little island of futility.