Wiki - Gear
Everything you need to know about gear can be researched here.
Wearing a lot of Heavy or Metal armor will make it impossible to use the Meditation and Stealth Skills, but will grant an inherent reduction on Stamina Lost in battle. Stamina is used to drive combat speed, thus those who tend toward close quarter combat may wish to wear Plate Mail. The reduction to Stamina Loss is outlined below and is calculated per piece of armor worn.
Stamina Loss Reduction
Cloth & Leather Armor : 0
Wood, Stone, Studded & Bone: 0.1
Ringmail, Chainmail, Platemail, Dragon Armor: 1
Wearing Light or Leather will allow increasing amounts of Meditation and Stealth and they are often preferred by spell casters and rogues. All armors grant a bonus on Lower Mana Cost. These, like the Stamina Loss bonuses above, are hidden but add up per piece. They may exceed the normal gear cap of 80.
Lower Mana Cost Bonus
Wood, Leather, Shields & Mage Armor Items: 0
Ringmail, Chainmail, Plate & Dragon Armor: 1
Studded, Bone & Stone Armor: 3
All weapons have their own abilities, speed, and do a range of damage. It is up to the player to decide what weapon works best for them based on these factors. Attack speed will be modified by Stamina and Swing Speed Increase and will cap at 1.25 seconds. Damage on weapons may be increased to a maximum of 20-24 using Increase Weapon Damage Deeds from the LoS store, but these are expensive so it's likely not a good option for any but the very established player. Abilities, however, may not be modified by any means.