Items have base item types with a certain damage or armor rating. Then what material it's made of gives a bonus. In addition different types of enhancements can be generated on items, similar to what you get out of alchemy. +Stats, HP, MP, resistances, but the mage didn't keep track of those.
The mage has no idea how items are generated into shops, there might be price caps or stuff and some item/material combos might be impossible. This is just info on what stuff is and does if it does exist.
First, let's look at the materials. Most weapons and heavy armor are metals and light armor cloths, but there are exceptions.
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Material Bonus dam/ar
Hemp 0
Hide 1
Leather 1
Boiled Leather 2
Studded Leather 2
Reptile Hide 3
Studded Reptile Hide 3
Dragon Skin 4
Spun Admantium 4
Ancient Dragon Skin 5
Copper 0
Bronze 1
Iron 1
Steel 2
Tempered Steel 2
Dwarven Steel 3
Tungsten 3
Mithril 4
Adamantium 4
Divine Ore 5
The wooden table might be incomplete or just wrong...
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Material Bonus
Pine 0
Birch 1
Oak 2
Maple 2
Walnut 3
Burly oak 3
Hickory 4
Mahogany 4
...WEAPONS...
-Cleaving
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Item Base damage
Machete 2
Hand axe 3
(Double) Battle axe 4
Great axe 5
Grand axe 6
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Item Base damage
Cudgel, Quarterstaff 1
Hammer, Mace 2
Spiked mace 3
Warhammer 4
War maul 5
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Item Base damage
Short sword 2
Long sword 3
Two-handed, Long sword 4
Great sword 5
-Piercing
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Item Base damage
Knife, Dagger 1
Stiletto, Dagger 2
Short spear 3
War spear 4
Cleaving weapons are light in weight and the most damaging, and you get a pretty good one as a reward for one quest. But the lvl 10 feat sucks, you don't want to get surrounded by enemies when fighting.
Bludgeoning weapons are heavier and less powerful. The unique Splitsunder isn't very good. But they're the best at bashing objects, and IMO the lvl 10 feat is the best of the bunch.
Swords are the heaviest, but the lvl 10 feat is interesting. Two unique swords in the game are pretty good, one of them gives an armor bonus and is the only weapon which does so!
Normal piercing weapons aren't all that great, but the unique ones you find are arguably the best weapons to be had at the times you find them, and weigh just 1.0. Double strike isn't bad either.
...ARMOuR...
-Shields
Shields are metal, except bucklers are wooder. You'll probably only be seeing pine and birch buckler's as only one merchant seems to stock with them. Ara was seen stocked with a dwarven steel tower shield, not bad at that point of the game; probably you'll only ever top that by 2 AR...
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AR | Shield type
1 | Small, Buckler
2 | Large
3 | Tower
4 | Lord's
Heavy armors are metal.
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AR | Head | Back | Chest | Waist |
1 | Half-helm/Chain coif | | Chain Jerkin | |
2 | Full helm | Military Steel | Chain Armor | Plated belt |
3 | Lord's helm | | Brigandine | Warlord's belt |
4 | Great helm | | Scale Armor | |
5 | | | Plate armor | |
AR | Legs | Feet | Hands |
1 | | | Chain gauntlests |
2 | Chain leggings | Scale boots | Scale gaun./Plate brac.|
3 | Brigandine leg. | | Plate Gauntlets |
4 | Plate leggings | Plate boots | |
5 | | | |
Light armors are cloth, with a couple of exceptions causing confusion marked with Asterix(*). Also several different base types are identically named. Gotta love the headgear especially... The mage didn't care for 'junk' items with no protection enough to put them in the list.
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AR | Head | Back | Chest | Waist |
1 | Skullcap | Light cloak | Jerkin, Studded vest* | Belt |
2 | Skullcap* | Heavy cloak | | Studded belt |
3 | Skullcap | | Armor | |
4 | | | | |
5 | | | Armor | |
AR | Legs | Feet | Hands |
1 | Leggings | Sandals, boots | Bracers/Gloves |
2 | Studded Leather* | Boots | |
3 | Studded Leather* | Boots | |
4 | | | |
5 | | | |
Theoretically, using heavy armor versions in all item slots would grant 6 more AR than wearing all light armor. In practice the difference is a little bigger because some high-end light armor types are hard to find, such as high quality gloves and cloaks. This is because when stores decide to sell "better" versions of those base items, instead of higher-quality materials/base item types they usually opt for magical equipment: meditation&stealth cloaks, repair/lockpick/etc. gloves. Then again abusing knowledge of the placement of certain non-random light armor loot can guarantee some ancient dragon skin pieces, whereas top of the line divine ore stuff can be hard to find.
So it's probably best to have one point in each skill and use whatever you find is best and can carry.
EDIT:Damn, in the preview the tables looked fine but in the actual post they got screwed up...