I've played for about 9 hours, and my Arisen/Pawn are level 19. It's a wonderful game, pretty much everything I thought it would be.
As I said, Level 19, 9 hours in. I have not found a single piece of equipment (save for the Common Archistaff, which was fortunate because I didn't want to buy one). So, for the majority of the time, I've been using the Broadsword (+3), and basic gear you can buy at the first store. Oh, I also found a guy selling some equipment out in wilderness, and got a Horned Helmet out of that.
Anyways, is equipment really this rare? Or is it the type of game where there's not really a whole lot of weapon variety, with a focus instead on upgrading? Any information would be greatly appreciated.