1) AC only affects your odds of being hit, it has no effect on damage recieved per hit. There is no such thing as a "perfect" AC, since Critical Hits will always get through, while 100+% Physical Resistances will make you pretty much invulnerable.
2) Straight Thief: 25 points per level
Swashbuckler: 25
Bounty Hunter: 20
Assassin: 15
Multiclassed Thief: 25 points per Thief level
3) Staff of the Magi, if you abuse the Invisibility and Spell Trap
Celestial Fury
Flail of Ages
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Volothamp's Comeuppance
Everything you ever needed to know about the entire Baldur's Gate series......except spoilers.
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