I've seen lists with many different conbinations of equipment in stoneforge mystic decks. Some are plain wrong IMO and I'd like to clear this up. I believe there should be an ideal package for each type of sfm deck. Here's my view on it:

Creature light sfm control:

These are the stoneblade UWx decks we have been seeing recently. As the deck is creature light, jitte is less useful because you have to feed an equipped creature to an opposing goyf to get counters in order to be able to buff your next dude. If you run few creatures, in many situations, sfm will be your only dude in play. IMO the best equipment for this deck is batterskull and sword of body and mind. Batterskull is obviously really good as it is a decent creature by itself. Why sobm over sofi and soff? The colours blue and green are the most relevant. The most common creatures in legacy are merfolk and goyf/necatl/kotr. Therefore, sobm is the best sword even though sofi/soff has better abilities.

Heavy ground based creature decks:

Examples of this kind of deck would be Dragon Stompy, Wg maverick or Bw deadguy. These decks have plenty of utility weenies and never run out of dudes. I believe that the best equipment for these kind of decks are Umezawa's Jitte and sword of body and mind. The pointy stick is obviously godly and since these kind of decks have no shortage of creatures, saccing a dude to get counters is no problem. Sobm is the best sword with the most relevant colours as previously mentioned. A bear a turn is nothing to laugh at either.

Why no batterskull? I strongly believe batterskull is crap in these kind of decks. In testing, a t3 batterskull is no big deal. Against aggro, sure it really hurts merfolk/zoo's clock but it simply doesn't win games in the mid range slugfest. Creature heavy decks don't need equipment to help stabilize/stall out games, they need bomby equipment that totally swings the game in their favor. Jitte and sobm do just that, batterskull is more often than not a rhox war monk. Batterskull should be equip no 3 at best. This is in case you kept a creature light hand and need the body.

Evasive equipment decks:

This would be decks like Angel stompy or faerie stompy with a bunch of flyers. When you have evasive creatures you are pretty sure to connect with the opponent, so you want equipment with the best abilities irrespective of protection colours. IMO the best equip is sword of fire and ice and umezawa's jitte. Card drawing and shock everyturn is by far the most powerful ability. Soff's untap is pretty useless as in an aggro deck like this, equips should be the last cards out of your hand, you will likely have nothing in hand to cast once you connect with soff. Sols is also not great since lifegain is not that important as jitte can also gain you life. Disentomb effects are also not great in a format of stp. Having no creatures in the yard is pretty common if your creatures are evasive and swinging.

Sword of war and peace is a very swingy card that has no place in legacy. Against control, you want card advantage/tempo which sofi/batterskull gives you. Against aggro, you want pro the right colours/break the creature deadlock which sobm/jitte provides. Against combo all equips come down way too slow to matter anyway. Basically, Sowp is only good at swinging past caws/sfm in standard. In legacy, its pretty bad.

Cheers, and let me know your opinions.