Is the suit supposed to be like the armoured suit in the latest comic incarnation?
I believe not.
Superman's suit in MoS is supposed to be what a Kryptonian would wear under the armor, like the armor we see Zod wear.
To quote from the recent EW magazine:
The film also provides an explanation for that tight-fitting suit, which is a part of Kryptonian warrior culture. All their armor goes on top of the suits. But because Superman's a refugee, his iconic outfit in our world doesn't have the snap-on battle gear, which would make him a defenseless man on his own Kryptonian turf