[Pap Renvela]

If you are going to go with this idea,,,,
I'd suggest the person still need cyber-surgery.

 
Have the suit provide +1REA & +2Initiative per level up to level 3.
Level 1 requires a datajack & REA enhancers[1]
Level 2 requires a datajack & REA enhancers[2]
Level 3 requires a datajack & REA enhancers[3]

So level 3 would be (along with the enhancers) +6REA + 6 Initiative for a total of +12 added to the users initiative.
A person w/5 REA+5 INT would then be 22+1d6 Initiative (avg 25.5)
The same person w/wired ref[3] would be 13+4d6 (avg 27)or an avg of 30 if he also had the REA Enh[3]
The same person using M-B-W[3] would be 22+2d6 initiative (Avg 29)

The drawback would of course be that for the whole system to work, you'r using simsense and are subject to the addiction rules.
I'd probably have the suit incorporate P-Tac as well making it ultra-expensive and thus not mass-marketable.

[The Wyrm Ouroboros]

Power armor has been one of the Holy Grails of SR since long before fraggin' 4e.

According to ancient SR lore (i.e. 1e London Sourcebook, p. 126 - fair warning, it's written by SR's very own Horrors, Carl Sargent and Marc Gasciogne), the Countess of Snowdon, Rhiannon Glendower, has a group of 80 cyber-monsters and adepts called the Knights of Snowdon (or Knights of Harlech).  (Harlech Castle is, according to the book, the seat of the County of Snowdon.)  The Knights of Snowdon/Harlech wear what basically amounts to power armor - taking a point-blank assault cannon round to the chest as well as a 'powerbolt that would have shredded an APC', all sorts of goodies.  Fuchi had a ¥1,000,000 'finder's fee' for a suit.

So you can feel free to ignore what everyone says - but as a GM I would not let it stay in the player's hands for very long.  Once you use it, people know you have it, still other people want it, and suddenly you're encased in a 300 kilo suit with dwindling power resources and every ganger, mobster, and shadowrunner in the sprawl gunning for you.