Monks get a bonus to AC from both their Wis modifier AND from their level. Using any weapon outside of the listed Monk weapons COSTS you that AC bonus, no if's, and's or but's about it. Pick up a longsword, lose the AC bonus, pick up a repeater, lose the AC bonus. Using any armor, period, you lose the AC bonus, same with shields. Only exceptions are racial weapon prof's..those don't cost you your AC bonus in PnP..not sure how DDO will handle that though. And you don't get the special Monk combat feats with non-Monk weapons at all, only a select number of the Monk's allowed weapons allow those.
Monks fight unarmored and without shields and get bonus to AC for this fact. Monks fight unarmed or with a special select list of weapons and lose any AC bonus using anything else for this fact. Keep in mind, Monk unarmed combat starts at 1d6(for Medium sized characters) and progresses up to 2d10 at 20th level.
That's what Monks get, that's how Monks work, and it's been that way since the original 1st Ed AD&D Monk was introduced. It's part of why Monks are rather squishy at low levels but are rather powerful at higher levels(combined with the long list of freebie feats/abilities) in PnP.
As for Striding..no idea, doesn't stack in PnP, Monk speed bonus increases as they level up, so that's probably what will happen in DDO as well.
Don't like it..well..you aren't alone, Monks aren't the most played class in PnP due to the limitations placed on them gearwise, not to mention the RP limitations. In DDO you only have to deal with the gear restrictions, so it's not that bad, at least you aren't having to constantly be either an enlightened member of a religous order that's always trying to justify WHY you are doing anything outside of the monastary OR an unenglightened member of a religous order that's only out to convert everyone to your religous views by any means necessary...a holy roller who kicks butt for 'insert diety name here' with your hands, as opposed to the paladin who does it with a sword