Disclaimer: only tested with 2/5 parts of the set.
I'm losing 40 additional magic when I take my Dragon HELM or Armour (chest) off. R8 stat bonus is fine, however.
Set bonus is only meant to be applied ONCE, however, it applies twice (40 magic rather than 20)
I do not know if this applies with ANY OTHER gear sets. Arcane Armour only tested, too. IF this is intentional, let me know.
Screenshots (before & after included!):
https://imgur.com/a/hzjd0