A lot of good replies in this thread.
Let me boil it down, though.
First, you need some kind of counter to enemy armor, if the enemy will have a significant amount. Since you are facing the Germans, then yes, you know you will see a significant number of armored divisions. It is vital to counter enemy armor, though. Whatever else you may feel about AT or TDs or anything else, the lack of penetration penalty is a harsh mistress. It's harsher, in my opinion, than the old hard-on-soft mechanic, and when you fail to counter it, the enemy gains a substantial advantage in concentration of force in the most critical battles because those armored divisions they bring to the fight are more potent than they would otherwise be. Since those are the battles you want to win, you really have no choice but to defeat enemy armor or face the consequences.
However, the counter to enemy armor can take multiple forms.
1) Immunize the front with AT: I know, AT sucks. But I call this the "no fail" counter to enemy armor. As long as your AT is up to date, and the enemy doesn't have 20 HARM divisions wandering around (and even if they do, if those HARM divisions are not upgraded properly while your AT guns are ahead of time, you might still be okay), you are fine. The key here is it doesn't matter where enemy armor shows up; it's taken care of. No micro, no failing at asset deployment, no nasty surprises. Guderian shows up in Estonia with 15 armored divisions? It doesn't matter; you have AT ready to counter him even if your T-34s are sitting near Kiev.
2) Bombers: I already proved it in another thread, but bombers of all kinds (except STR) are deadly to armor. It doesn't matter what kind of armor it is, what techs it has, how well it's led, unit experience, or supply status. If the bombers can get through, they hit for full damage. Furthermore, you can stack more planes in a combat than you can stack divisions, so even if the land combat is over width, you can always send a stack of TACs to a battle when armor shows up. Also, while CAS is well loved to blast armor, TACs are just fine at it themselves. (CAS are only really better against units with low softness, which not all armored divisions have.) The catch with using bombers is that you must have air superiority, and you need it from day 1. You also need to be able to defend in depth. Bombers don't instantly kill armored divisions (unless you put 30 TACs with 1941 or better techs into a single air strike). It takes some time to wear them down; you also have to micro your bombers to always target enemy armor when it is visible. But armored divisions with no ORG are no threat to your forces.
3) Counter-armor armored divisions: Instead of building armored divisions designed to beat enemy infantry, you can build your armored divisions to defeat enemy armor. This requires knowing where to put them, but the advantage is that you can turn the tables and turn an enemy spearhead into a breakthrough of your own.