Originally Posted by Amenbrother
Is there some kind of rarity to it or color coded? How will you know what you are picking up is better than currently equipped stats?
Equipment is organized by material and quality, similar to Aralon. You can inspect equipment before you pick it up and compare it to your current gear.
There is a nice amount of equipment in the game (and way, way more than in R1), but R:S isn't a KRPG-style loot fest. To put it in context, the game is more like a combat-oriented, Western RPG themed Zelda than Skyrim, despite the superficial appearance -- with Aven working as the central town in Ocarina of Time. The main differences are that there's much less emphasis on puzzles (though there are a few) and that the whole world is essentially unlocked from the get go. R:S also feels more grounded than Zelda, with a physics engine that allows things like knocking enemies off of ledges and jumping or flying up to locations that seemed at first innaccessible.
Don't get me wrong: there's still a ton of RPG elements -- stats, abilities, loot, etc. In its heart, though, R:S is more of an action adventure game than a hardcore RPG. Personally I think that's a great thing, but your mileage may vary.