yepp,
knee pads, helmets, weapons (except for the m14 or whatever that sniper rifle is) and comm equipment would need to be redone.
btw. I don't want to sound offensive, or incriminating, but I think those weapons do look pretty similar to some dragon (m4) and trumpeter(m16 and m249) parts. in case those are copies, why don't you use the more accurate new trumpeter sets, or the afv club/hobby fan releases?
as for the body armor, I don't think those look too loose, more too thick overall and too tight around the neck... if you have a look at the reference photo it clearly shows that the collars being way wider than in the set (also in hot countries like Iraq and Afghanistan I think most soldiers wouldn't bottom up everything in order to keep cool

) so wilst the IBA's should be a little smaller/tighter the collars should definitely sit a little more loose... in my opinion the main issue with the kit, since everything else could be changed pretty easily, while there's no replacement for those IBA's...
other than that I think this is going to be a must have set, I recon it's the first modern plastic figure set showing slightly sagged pants with side pockets, which I think is a real innovation!
Cheers, Max