the suit absorbs "basic" comic book damage but he couldn't take a direct hit from Iron Man or Thor.
He's a fighter on par with Captain America but below Iron Fist, Elektra and Daredevil. He's as smart as Stark, Reed Richards, Bruce Banner. Also has Starks level of resources and gadgetry.
He's the swiss wakandan army knife of the Marvel Universe in that he's a jack of all trades but isn't the outright best at everything.
He kinda has a shytty rogues gallery of villains though he his comic book runs are typically hit or miss (with more misses than hits) so hopefully that will change after the movie.