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I guess you have to start a new game on your completed game save file for the Shield and Blaster to show up. If you click New Game + or just start playing sandbox on that file you won't get it, guess that is where I messed up the first time around.
The one big difference I noticed with the outfit is when you are wearing it, You fire two blasts from your cannon, if you just use the shield and blaster on another outfit it's a rapid fire four ball blast which seems smaller and weaker.