Since Im only on the first stage i can tell you one thing.
Imagine the creators of blood bowl played dawn of war 2 and decided to fuse concepts from both games. Though it plays like dawn of war 2 not like BB.
There is no loot system but armor and weapons are handled through point progression and most of them have 2 weapon sets they can switch at a press of a button.
I.E dual wield swords/gun , Sword and banner/ Hammer and shield.
These points are contained within weapon racks and are pooled for the party meaning if you find 1 armor/1 weapon point you have to spend it wisely on one character instead of all characters gaining a point each.