Only with runic sewing kits, no shields or smith items like volco said. But using Runic sewing kits with the tailoring skill is another story and does in fact create runic magical armor.
A regular GM crafted barbed suit, which is totally medable gives a 31AR. A runic spined suit ups 10 full points to 41 and a runic horned suit jumps 17 points to 48AR. I do not know the stats for runic barbed as I have never got that kit, but am sure there is another lg jump. Keep in mind...these suits are totally medable.
I have also did further testing with a horn kit using bone to craft a horned runic bone set. Now this is the most insane crap I have seen. You will fail alot even at 120 skill making the pieces, a few charges will be burnt to have all exceptional but the results..Incredible. 64AR with no dex loss. That horned suit trumps anything made with ingots, and the only thing that is comparable is fortification/invul plate suits that crush your dexterity.