Well, certainly you're getting it right

Just for comparition let me post a rundown of how I do it. (Less weight painting involved)
1. Using Starndar Hum_m/Hum_f as base mesh. (Same)
Tip: Use ctrl+g to make the mesh into a group, then you can change the outline (Panel in the Top-Right) to organize the objects per group, helpful when working with a lot of meshes with submeshes.
2. Load the TL1 armor to work on.
Tip: Make duplicates for the "new" parts you will work on, this helps keeping the original intact in case of screw ups.
3. Transfer the Helmet and shoulders (scaling, positioning, etc), to have it use weighted to the Hum_m skeleton, you can just look at the properties panel (Righ panel), and in Modifier: Armature change the object it's using, from the original to the Hum_m, this preserves the old weights but now they move with the Hum_m skeleton.
4. Search for a vanilla armor that has a similar siluette to the TL1 armor, then mix and match the parts, a bit of editing here and there. (This parts come already weighted, so less work with that, also makes it easy to make Male/female version with less work)
5. Re-texure the TL2 armor parts with the TL1 armor textures.
I found that a good start is to re-scale, reposition and bake the textures on a duplicate of the new armor part, then fix a bit the texture editing the UV of the duplicate, then Baking the texture of the duplicate on the original to have it use the original UV map. (Most gloves/boots textures are the same for male/female so having unmodified UV maps, make the texture works for both)
The hardest part usually is the chest part for this, since is what gives a lot of character to a armor set, and Male/Female version needs different editing and texturing
6. Give it a little touch to the textures on Gimp.
7. Rename everything to the TL2 naming convention, and check to have the right material and textures per submesh
8. Export with skeleton, delete the skeleton (it exports with all the bones rotated), copy-paste a Hum_m/Hum_F skeleton and remane it to the eskeleton your armor uses.
9. Done (In theory)
Tip: Save at every succeful step, so you don't have to make everything again. Also keep a .blend file of the final version, for quick edits and fixes.
That's kind of what I do, is a bit different that transfering all the original parts and weighting, but mix and matching TL2 armor takes time and gets tedious, also retexturing can get tricky. But I post this so you have an idea of how to aproach it another way if the result you're getting are not what you really expected or are having trouble with the weighting.
Hopes you or anyone finds this useful, also keep the hard work Phan, you're making really good progress.