The armor skin is in the game. This is evident by looking at the .tre files and seeing the bounty hunter trainers. But the armor drop is not in the game. They pulled the same stunt with Jedi, don't you remember? They were saying that the jedi profession was "in" the game from Day 1, but none of their files made any sense until the October patch when all of a sudden new patch code showed a ton of jedi code in it. 3 weeks later, the first force sensitive was unlocked.
If Mandalorian armor was in the game as something players could acquire, at least one piece would have been found by now. If it is indeed in the game and no one has found it yet, then chances are no one will ever find it, seeing how many people have already played and left the game. If it is the rarest of rare drops (like a legendary item but 100x rarer), then it will be so infrequent that you will find less then 1 piece per 6 months on all the servers combined. For that to be the case, it will take (7 pieces x 6 months x 24 or so servers)= an average of 84 year in real life before a full suit is on a server.
So, it is a safe assumption to say, "Mandalorian armor is NOT in the game for players to wear yet."
EDIT: clarified the last statement by adding "for players to wear"
Edited, Tue Feb 3 03:52:22 2004 by Monserat