setting up a given value range for eq, and then have a randomizer pick values within the parameters of that range would be absolutely AWESOME. Imagine that your arctron is only 26 avg damage, but has 5/5 hit dam? Or that your Mithril plate is -1/-1 BUT -8 mal saves. It means that there are no longer God suits, that means there is VALUE in the identify skill beyond simply quelling your curiousity. It means that people are not always after a terminator, because it might just be a diamond wristguard. Oh this is an idea I REALLY like.
Stat randomization on EQ
can be done with a point system for eq flags/damtypes/weight/whatever
the key aspect of this though is that it removes limited availability...so the eq will always be in. Rare/unique serve a new role which randomly adds/subtracts points to the pool for the weapon. Nice side effect to this is that it will standardize weapon power to level and place, since each weapon/armor can be scored by points. No more relying on builders. This isn't to say that all weapons will be the same though.
You have some base weapon (designed manually) and rare/unique/(poor?) flags change the point totals
Weapon level / 5 = target number of points
for example comparing current weapons using a point system:
Discordant Fiber:
Level: 50 = 10 total points
Weapon type is whip = +2 points
Damage is 6d7 (average 24) = +3.5 points
Damage noun is acidic bite. = +2 points
Weapons flags: vorpal = +1 point
Affects str by -1, level 50. = -0.5 points
Affects dex by 1, level 50. = +0.5 points
Affects damroll by -1, level 50. = -0.5 points
Affects hitroll by 6, level 50. = +3 points
Extra bits: glow magic nodrop antigood nonmetal nouncurse socketable = +1.5 points
Weight: 50/50/50 (10th pounds) = +1 point
Rare item. = -3 point
= 10.5 total points (tad strong for a rare 50 whip)
A deadly whip of bluish fire:
Level: 48 = 9.6 total points
Weapon type is whip = +2 points
Damage is 7d6 (average 24) = +3.5 points
Damage noun is whip. = +0 points
Affects flame arrow by 25, level 48. = +0 points (cosmetic)
Affects damroll by -1, level 48. = -0.5 points
Affects hitroll by 4, level 48. = +2 points
Weight: 30/30/30 (10th pounds) = +1 points
Material: fire = +1 point
Rare item. = -3 points
= 6 total points (far inferior to the discordant fiber)
example point values:
+1 hit or dam = +0.5 points
+10 hp/+20 mana/+30 moves = +1 point
Weight above 30 = +1 point
Weight below 10 = +1 point
Every avg dam above 17 = +0.5 points
fire/wrath/water/rays/frost damage type = +3 points
non fire/wrath/water magic damage type = +2 points
fire material (doesn't stack with vuln material or fire damage) = +1 point
vuln material (mithril) = +1 point
paralyze = +2 points
flaming = +1.5 points
vampiric = +1.5 points
poison = +1.5 points
sharp = +1 point
vorpal = +1 point
deadly = +1 point
wounds = +1 point
shocking = +0.5 points
frost = +0.5 points
noremove = +2 points
nodrop (doesn't stack with noremove) = +1 point
bless/dark = +1 point
burnproof = +1 point
socketable = +2.5 points
weapon/defense prof bonus
str/dex bonus = +0.5 points
-10 AC = +0.5 points
whip/axe/polearm/staff = +2 points
dual parry = +2 points
race unusable material (not antigood and iron or wood) = -1 point
single race or class only = -1 point
twohands = -1.5 points
unique = -5 points
rare = -3 points
anti-align = -1 point
nouncurse = -1 point
rotdeath = -1 point
stat penalty = -0.5 points
weapon/defense prof penalty = -0.5 points
+10 AC = -0.5 points
dagger = -1 point
the system/builder can use up to level/5 points for the creation of new equipment...or the system can use these points values to create variants (rare/unique/poor/whatever) of eq on spawn
this method also serves as a method for the difficult prospect of rebalancing mud-wide EQ
I really like this idea. 
Some problems I could see:
What's to keep people from camping on a low level area and killing weak mobs 100's of times to see what randomly pops up until they get the god suit they're looking for?
You know the BOW (badass of the week) is totally suited up, but you now have absolutely no idea how to compete other than camping out to ***hopefully ***get a random set strong enough, rather than being able to set a few goals in mind and get after the mobs you know are holding just what you might need.
I think this idea is more immersing for those who have already mastered the art of obtaining so called god suits.
Those who usually get only moderately decked will most likely be hampered here... The idea is interesting but I think it's catering more to elites who are bored at the expense of newbs (because now no one to teach them what eq to get and everyone will just kinda go, "i dont know anymore") and moderately experienced players who have just started getting the hang of eq gathering generally And how to build strategic suits.
You will also get much heavier looting across the board because what if your item x is better than my item x. No more leaving them a fullplate or legplates or any other decent rare Im already wearing bc what if its better than the one I'm carrying? So imma heavily loot to ID everything you have.
Not saying heavy looting is wrong or right. Just stating a cause and some probable effects that I dont see as exactly beneficial to the whole of the pbase.
Sidenote: this kind of randomization might make moderate tier more attractive for those more likely to gain eq from mobs instead of pk.
Still, overall, I'm not sold on the idea.
Edited
It means that people are not always after a terminator, because it might just be a diamond wristguard. Oh this is an idea I REALLY like. Nah, it actually means, that even if I have two terminators already, I will STILL loot yours, because they might be better than mine.
Also, it means that people who know how to kill certain strong mobs (vets), will get their desired items no matter what. Yes, it will take much more grinding, but still, the end result will be the same.
On the other hand, people who don't know how to kill those strong mobs, will kill them only once - when they manage to get a hold of a group, so they will end up with even weaker items that those of the vets, even if they have visually the same ones.
The only thing this change would bring to FL IMO, is to make the gap between vets and the rest even bigger.
If you are happy with this, I am happy as well
Edited
Honestly I enjoy the idea of randomization quite a bit. It is going to bridge gap between mid and high range eq. It can also improve non rare eq as well
Sum up of this long post:
Randomizing eq makes the game more interesting for elites and simultaneously more murky and difficult for newer players.
Continue reading for greater details of my argument.
Case in point, The-Nameless already knows how to get strategic/god suits for his chars. Instead of total eq randomization, we could just tone the god suits if the goal is bridging the gap. Also, what's the point of having gauntlets like Gear, Dischord, Desolation, Factions, if you aren't guaranteed some kind of payout for the extra time investment required?
Also, a lot of the PK element of this game is based on strategy. A pseudo pre-PK chess game as you develop your strategy, eq focus on hp, mana, -ac, hit/dam, svs, what type of svs, etc. Now granted, I never made eq lists (much to my own displeasure) over the years like I now wish I would have, so the change in that respect wouldn't really hurt me personally, but I do know the general ideas of most armor
e.g.
titanium fullplate is good for -ac hit/dam
helm of spell turning is good for -affl svs,
commander's signet ring is good for svs,
vorpal sword is a good mundane weapon,
Djinni bands are good svs + good for cleric.
etc.
If eq was randomized, the ability to suit strategically would be INCREDIBLY difficult, making banes that much more of a bane (a natural bane that isn't based on eq worn) because you can't easily or reliably prep for them. Randomizing eq does increase replay-ability of any one combo for those who have already "mastered" it, but I think it makes the waters even more murky for those who haven't ever played that class.
For instance, if I wanna know how to play a monk, I can go take a look at Zoichan, try gearing that way if I'm lost, if I wanna know how to set myself up as an Ogre warrior, take a look at Thulgan or Orchuga, Rangers look at Felch, Ekhurift, or Rumblaw, etc. You won't get perfect, but once you gear up like them you'll have an idea of what they're going for, then adjust to fit your own style. If eq is randomized, I can not learn from other players, and because this is an RP enforced mud, trying to help someone IG understand how to suit up will be incredibly difficult, because you won't know what their score sheet looks like to suggest modifications.
Again, while I think the idea is intriguing, I'm still not sold that such a major shift is a good idea for the MUD as a whole.
P.S. Vote! 
Edited
I hate this with passion.
It removes a lot of strategy from the game to give more power to those with lots of time.
Non random eq, means that when you die you can get exactly what you planed to get.
Imagine that you are a knight fighting daily a Nexus Shaman that full loots.
You want to have eq that you can depend on after a death, not some random game of min-maxing.
It would also prevent holding equipment to prevent others from holding them.
Like holding those terminators bracers from an enemy cabal monk you just killed, so that he can't have them. A very valid tactic even if most of you don't like it.
I hate this with passion.
It removes a lot of strategy from the game to give more power to those with lots of time.
Non random eq, means that when you die you can get exactly what you planed to get.
Imagine that you are a knight fighting daily a Nexus Shaman that full loots.
You want to have eq that you can depend on after a death, not some random game of min-maxing.
It would also prevent holding equipment to prevent others from holding them.
Like holding those terminators bracers from an enemy cabal monk you just killed, so that he can't have them. A very valid tactic even if most of you don't like it.
Oh wait. I suddenly have a strong inclination to change my opinion for some reason. I now fully support randomization of eq.
Just kidding. 
Valid points from Mya, although I don't particularly like the idea of eq hoarding, as I know players do it on "spare chars" to keep good eq from circulating for active chars that their "main char" is likely to be fighting. But that's another topic entirely.
Edited
eq hoarding, as I know players do it on "spare chars" to keep good eq from circulating for active chars that their "main char" is likely to be fighting. But that's another topic entirely.
Anyone getting caught at this, can rely on having both this "spare" char and his main denied on the spot.
Think people. Doing stuff like this does not make the game fun for anyone.
I know of people who have purposefully gotten things after a purge to keep it out for months on end.
, although I don't particularly like the idea of eq hoarding, as I know players do it on "spare chars" to keep good eq from circulating for active chars that their "main char" is likely to be fighting.
I'm not referring to that. Some classes, specially mages unlike warriors 
, do not need to carry 4 rares in inventory.
It was a common tactic for Shamans to carry Lamian Staves to deny it's use to their enemies. But I guess people are soft this days.
Invokers have space for the 2 terminators. Hell if it was me, I would even probably bind them both 
.
Edited
Anume is talking about additional characters love. You can hold whatever you wish in the inventory of your main.
This idea will turn FL into Diablo 2. Not a fan.
I'm not referring to that. Some classes, specially mages unlike warriors
It was a common tactic for Shamans to carry Lamian Staves to deny it's use to their enemies. But I guess people are soft this days.
Invokers have space for the 2 terminators. Hell if it was me, I would even probably bind them both
Yeah, I didn't mean you, Mya, nor did I think that's what you meant. I think it's totally legal to carry around a couple great pieces of EQ your enemy would like to have.
CrackWillie21, excellent point here.
Edited
The main benefit of stat randomization is that...the eq is always in. If you go to a mob, you will always get something. This is very important, especially for lower level players who often don't get much out of the eq trips they are dragged to.
This will actually help LOWER the gap between high and mid-skill players. So, yes, my hakaeshar eye might be (slightly, in the best case) better than yours, but at least we both are able to get one instead of just me.
As for farming low-level eq...you can farm fiery daggers, but even a unique fiery dagger will not be such a great weapon. It will just have another flag on it or something.
As for looting..it would be a change. But it doesn't always mean more looting. If I have a decent set of my wares with the particular stats I favor, it is very unlikely you have something that I would prefer. If I know I have gaps in my wares, I'll favor looting those first...and those may or may not be your best wares...I can't be sure. In the end, it would turn into more careful looting instead of already knowing which items are the best and needed. You could try to get all and sort through it, but that is no different than trying that now.
Edited
Please no.
Don't turn this into Diablo.
You mean an action RPG with PvP? Yeah, who needs procedurally generated variety...for example, instanced areas would be so...boring...?
Edited
It just seems like if we want gear to be always in, that even removing rare counts is a better solution than making it so items are no longer measurable in worth before spending the time to actually acquire them.
"I just spent 15 minutes on this mob for X item. Let's see what I got!"
Brambus hands you X item> Brambus "X item is weapon. Type 2h polearm. affects int by 6. affects wis by -3. affects mana by 20. affects hitroll by -2."
"Well... crap."