that logic doesn't make sense when the king tiger (375), jagdtiger (525), and the elefant(400) all exist in game, against factions whose main gun typically top out at around 220-260.
Even just the tiger (290) and panther (320) have higher armor than the churchill mk 7.
and it's worth noting that the tiger's 1040 hp means it take 7 shots to kill.
Balance without context is just misleading.
...
1) You are talking about frontal/side armor. Churchill currently has higher rear/side armor. Actually an Ostheer PzIV 4 parked behind a Churchill has less change to penetrate it than Churchill has to penetrate it frontally.
2) The performance of Panther vs Churchill is not actually good. It an antitank units more expensive than Churchill yet according to calculation before the patch (nwo it should perform a bit better) Panther, OST 67.75 - 90.25 it took more than 1 minute to kill it, with the stug doing allot better.
3) The units you mention are all limited to 1 Churchill is not. I used the unit when it was tougher to kill (and I guess you did also) and facing Churchill spam was not really fun to play against.
The unit could have its utility increased or could have its synergy with infantry increased or even have different vet bonuses but its starting stats seem to be ok.
(and the KV-1 damage reduction model should be either followed by other "heavy infantry tanks" or be removed)