Hmmm... Truish... To a wierd and slight extent.
Not sure I agree with armour + health though.
If we assume the opposition paks or infantry AT to be the likely threat then it would be number of shots required to feck it up. Difficult to quantify the Protection / Mobility / Firepower triangle in pure stats.. Also really you should also divide the actual cost of these units into it but here goes...
Pak40, Pen 200 will penetrate a Church ( anyone thinking of Welsh opera singers here?
) 83% of the time for 160 damage, hence 1400 / 133.33 = 11 shots average. Course the Pak also has AP rounds guaranteeing penetration...
JS2 13
KV2 10
Same values for 6 pdr...
Tiger 10 shots but with more statistical variation upwards due to higher bounce chance
Panther 8 shots, but even higher variation
PIV 5 shots
Not sure what the KT stats are.
Zis..
Panther 9 shots
Tiger 11 shots
PIV 5-6 shots.
For Shrecks though Churchill will die to 24 hits on average, 4 volleys from a 4blob. Panther, PIV and probably Tiger are highly unlikely to take many Piat rounds providing they keep moving.
So purely on volleys the from AT the values are similar, the Axis tanks however all have far superior mobility ( on average 50% better) allowing them to take damage and retreat. The Churchill on the other hand is barely any faster than the infantry chasing it and not a great deal faster than a Pak.
The Soviet heavies are also much better in a footrace.
Add firepower into the mix with the rather weak in comparison to all others main gun and the Churchill isn't head and shoulders above the opposition in terms of protection ( in an annoying way too as it is far less likely to get lucky with bounces) and rock bottom in mobility and firepower.
There are other factors too of course. Time in Combat will be worse on the whole assuming a well microed tank always retreats to be repaired due partly to it's glacial pace on the retreat( think my Gran could avoid a squish from a Church) and slower repair times due to higher HP pool. Also it is far more likely to take damage due to the amazingly cheap by comparison Shrecks ( effectively no manpower or fuel, just munitions).
Best comparison would probably be the Tiger which has roughly equal protection ( though don't think they are vulnerable to Piats), roughly double the firepower and with 20% better mobility for an extra 40 fuel.
Hence why no fecker uses it.
Given it's design constraints in terms of firepower and mobility you'd expect to see it head and shoulders above allcomers in terms of protection.
6 inches of blued British steel should only penetrate when it wishes.
Bet you are thinking of opera singers again...