The problem with Attack equvilant, and Defense Equivlant, that I see, is Spells.
No spell lasts for more than one turn, yet the effects of a spell, depending on the situation, can be quite powerful.
I think that as far as Defense Equivilant, Spells have one of two settings;
For spells that modify a creature, the spell lasts as long as the creature does-i.e, the defense Equivilant of buff spells =Defense Equivilant of Creature target.
Something to note, is that the Attack equvilant effect of the spell can modify the defense Equivilant- for an example:
's Blessing.
Attack Equivilant +3 to creature attack equvilant& defense equivilant.
in this case, it's a simple +3.
Now, for a more complex example, we have
's Adreniline.
Attack Equivilant is creature's Attack Equivilant (I'm starting to not like how this sounds...) multiplied by the number of extra attacks scored minus the 'decay' penalty.
However, this spell also renders the target creature vulnerable to poison effects, while granting 'resistance' to delay effects.
Now, that said and done, on to spells that do a 1-time thing, like
's fire bolt, the defense Equivilant is 0.
The spell does not last beyond the cast time, and it's effects are only felt once.
It seems the system does indeed work for spells, but application of spells to the card theory is tricky.