Hmm, Most of the best armor has some pretty terrible resistances, I usually just ignore it because it doesn't make a heck of a lot of difference, especially if you are getting a lot more defence.   Basically if you have really bad fire resistance (-15 or less I suppose) Be really careful because fireballs are going to hurt a ton. Thats about the only thing I really ever notice, of course they are easy to dodge =P
 
I believe Dragon res affects the regular physical attacks of dragons, but I find it to not make a big difference, a dragon hitting you is going to hurt like hell anyways.
 
One sec.. Cranking on my PSP to check my armor =P
 
Uhm Your current armor is pretty good, You could try making the Death Stench set, its pretty easy to make, just keep sending the cat at the pocky farm out to the jungle with as much points as you can. I believe its jungle, volcano might work too. Your aiming for Sinister Cloth's. I'm looking at the torso piece here and it is: 2 cloths, 2 blangonga fang+, 3 unknown skull, 3 elder dragon bone. 
 
Also if you can take on the kushala daora by yourself or with your friends, get that armor set too. Possibly work on kushala set while getting the cloths for death stench, also you will get those elder dragon bones too.
 
If you have a PS3, add Xeiphyer and I'll take you on some silver rathalos quests, Silver rathalos armor is super sick!
 
Ok for weapons, I'm not familiar with your weapon because I never bothered to upgrade to that one, if it has water or ice element, I'd recommend trying to replace it more.. those elements aren't really that useful. Aiming for a dragon element weapon is your best bet. As you start taking on more and more elder dragons, your going to want to get at their tail carves, however you can only cut off an elder dragons tail when its HP is below 10%, this can make it really really hard to pull off! If you have a dragon element weapon it can be cut off normally as with any other dragon. It might also apply to the other breakable pieces but I forget. So its way worth it.
 
The Centenarian Dagger is a really easy to make powerful katana.
 
If you have defeated the tigrex offline, you can get into the cave in the pocky farm, mine up some dark stone/pieces (with 2 elder dragon bones each try..) get a pocky ticket and make the black scythe. Its pretty good and upgrades to an excellent weapon. There is also a greatsword version if thats more your style.
 
The carbalite sword is easy (possibly tedious for you) to make, looks cool and has a katana path or a greatsword path. they both are pretty sick!

Yeah try setting up your ps3 =P Its really easy, you just make sure your ps3 is hooked up via a wire, because you need the wireless to interact with your PSP, then you just turn on adhoc party, sync it with your PSP (Just sit in the online gathering hall then start the syncing) Itl connect, then just join a world, then room.  
 
Of course most players in there will be japanese, so its better to communicate with people beforehand =P. Add Xeiphyer on your PS3 if you like haha.
 
Your weapons are pretty awesome =P So you should be fine with that for quite a while, try getting a dragon element weapon eventually. and theres a + version of the kushala gear.  
 
The Akantor weapons/armor are amazing but Akantor is pretty damn tough =P his armor has mad defence and the set gives +2 sharpness, so that usually maxes out your weapon sharpness. I believe its 1.25% dmg with white sharpness, possibly 1.5% even.
 
The guard and guard up skills are pretty cool too, being able to take next to no damage when blocking comes in handy, and I believe you dont slide back when blocking and it costs less stamina, also with guard up you can block the unblockable attacks, like the gravios nuke beam attack! Its awesome blocking that! You feel so badass =P