Hello Zupakode! I was wondering the same question, and reading the answer it is out of date.
I did my own search and this are the must have items we should have as MS 500+ for diferents situations:
WANDS
Deepling Ceremonial Dagger: Range:6, magic level +2, protection earth +5%. Imbuements: 2 Slots.
Cobra Wand: Range:4, magic level +2, critical hit chance 10%, critical extra damage +35%). Imbuements: 2 Slots.
Deepling Fork: Range:5, magic level +2, critical hit chance 10%, critical extra damage +25%, protection holy +8%. Imbuements: 2 Slots.
Energized Limb: Range:5, magic level +2, protection energy +10%. Imbuements: 2 Slots.
Falcon Wand: Range:5, magic level +3, protection fire +8%. Imbuements: 2 Slots.
Lion Wand: Range:4, magic level +2, life leech chance 100%, life leech amount +18%. Imbuements: 2 Slots.
Soultainter: Range:6, magic level +5, critical hit chance 10%, critical extra damage +10%, protection death +12%. Imbuements: 2 Slots.
HELMETS
Falcon Circlet: Arm:8, magic level +2, protection fire +9% Imbuements: 2 Slots.
Gnome Helmet: Arm:7, magic level +2, protection energy +8%, physical +3%, ice -2%. Imbuements: 2 Slots.
Galea Mortis: Arm:7, magic level +2, protection death +6%, holy -3%. Imbuements: 2 Slots.
Dwarven Helmet: Arm:6, protection physical +2%. Imbuements: 2 Slots.
ARMORS
Soulmantle: Arm:17, magic level +4, protection physical +4%. Imbuements: 2 Slots.
Toga Mortis: Arm:16, magic level +4, protection death +6%. Imbuements: 1 Slot.
Firemind Raiment: Arm:15, magic level +4, protection fire +8%, ice -8%.
Earthmind Raiment: Arm:15, magic level +4, protection earth +8%, fire -8%.
Frostmind Raiment: Arm:15, magic level +4, protection ice +8%, energy -8%.
Thundermind Raiment: Arm:15, magic level +4, protection energy +8%, earth -8%.
Dream Shroud: Arm:12, magic level +3, protection energy +10%. Imbuements: 1 Slot.
Elven Mail: Arm:9. Imbuements: 3 Slots. It weighs 90.00 oz.
Dwarven Armor: Arm:10, protection physical +5%. Imbuements: 2 Slots.
SPELLBOOKS
Book of Lies: Def:18, magic level +4. Imbuements: 1 Slot.
Lion Spellbook: Def:20, magic level +4, protection physical +3%, ice +7%. Imbuements: 1 Slot.
Shoulder Plate: Def:26, magic level +3, protection physical +2%, earth +6%. Imbuements: 1 Slot.
Spellbook of Ancient Arcana: Def:19, magic level +4, protection death +5%.
Spirit Guide: Def:17, magic level +4, protection energy +6%. Imbuements: 1 Slot.
Umbral Master Spellbook: Def:20, magic level +4, protection earth +5%, fire +5%, ice +5%, energy +5%. Imbuements: 1 Slot.
LEGS
Soulshanks: Arm:10, magic level +3, protection death +10%.
Gnome Legs: Arm:9, magic level +2, protection energy +7%, ice -2%.
Soulful Legs: Arm:8, magic level +1, protection holy +8%.
Dwarven Legs: Arm:7, protection physical +3%).
Depth Ocrea: Arm:8, protection mana drain +15%.
Gill Legs: Arm:7, magic level +1, protection earth +8%, fire -8%.
Magma Legs: Arm:8, protection fire +6%, ice -6%).
Icy Culottes: Arm:8, protection ice +8%.
Grasshopper Legs: Arm:7, speed +10).
BOOTS
Boots of Haste: Speed +20. Imbuements: 1 Slot. It weighs 7.50 oz.
Glacier Shoes: Arm:2, protection ice +5%, energy -5%. Imbuements: 1 Slot.
Golden Boots: Arm:4. Imbuements: 1 Slot.
Treader of Torment: Arm:4. Imbuements: 1 Slot.
Pair of Dreamwalkers: Arm:2, magic level +1, protection earth +8%. Imbuements: 1 Slot.
Pair of Nightmare Boots: Arm:2, magic level +1, protection energy +6%. Imbuements: 1 Slot.
Pair of Soft Boots: (faster regeneration).
AMULETS & NECKLACES
Amulet of Theurgy: Arm:2, magic level +3, protection physical +3%, earth +14%. Duration 2 hours.
Shrunken Head Necklace: speed +10.
RINGS
Blister Ring: Protection fire +6%. Duration 1 hour.
Butterfly Ring: Arm:2, protection death +3%.
Ring of Souls: Protection physical +2%, life drain +10%) Duration 1 hour.
EXTRA SLOT
Bone Fiddle: Protection life drain +5%).
Shining Sun Catcher: Protection fire +5%).
Magical Torch: Speed +25.
Lit Moon Mirror: Protection death +5%.
Gleaming Starlight Vial: Protection mana drain +5%.