Basic strategy: EQUIPMENT

Basic strategy 101 version 1.4 written by Galen.

Equipment in this game ranges from various elemental defences to stat boosts. The body is divided into several sections:

Weapon
This is obviously the place where you hold magical wands and staves. These weapons raise from stat boosts to element damage boosts. It is highly recommended that you focus on acquiring your +% staff for your element of choice as quickly as possible. Although the stat boosts may look attractive, it is important to keep in mind that there are many many ways to increase your stats, but only one way to increase your max damage. Limit of 1 equipped at a time.

Head
The stuff that goes on your head, hats. The equipment you can wear on your hand can provide an elemental defence boost or a stat boost. Limit of 1 equipped.
Forehead: This set of equipment is things like circlets, headbands etc. These pieces of equipment only increase your elemental defence. Limit of 1 equipped.

Neck
Necklaces and amulets. This is perhaps the area where there is the least amount of choice. They provide stat boosts. Limit of 2 equipped.

Torso
This is robes and armour. They increase your elemental defence. Limit of 1 equipped.

Waist
Currently there are no items for this category.

Arms
Bangles, bracelets and... gauntlets? These pieces of equipment are quite versatile and can offer very decent elemental defence boosts as well as stat boosts at a fairly cheap price. An area I personally find useful to switch in and out of various equipments. Limit of 2 equipped.

Hand
Gloves. It increases your elemental defence, what more needs to be said? Limit 1 equipped.

Fingers
Ah, the typical repository for the mage. Rings can add a lot to your stats and you can wear a lot of them, so keeping up with the latest selection is very important. Limit 4 equipped.

Legs
Currently there are no items for this category.

Feet
The last section, sandals, shoes and boots. They offer various elemental defences but can have a
bit of a delay in between each new set so something to keep in mind. Limit 1 equipped.

Note: Be warned that you can only wear 1 unique piece at a time. For example, you cannot wear 2 Refined Ring of Intelligence, but you can wear 1 refined ring and its cousin, the gold-version Simple Ring of Intelligence. Elemental Defence is very important later in the game, however you can be forgiven for not having
any elemental defence at the starting stages of the game.

Here is a link to Polgara's item database.

Staves can also be extended or improved for gems or gold. Extend means to empower a staff with an additional element. This means you can have a staff which boosts both Fire and Water spells. You can also improve the % damage increase with gold or gems for a specific element. The difference between spending gold or gems for both extending and improving is the effectiveness of the staff. Spending gems will give you stronger % increases, and when extending will give the extra element the same base damage % as the original element. To clarify, if you have a Staff which has +85% water damage, spending gems to extend fire will give it +85% fire damage. But spending gold will give a much lower amount of % damage (half in fact).