Equipment

One rule governs equipment;  Equipment can do anything that powers can do.  Of course, equipment can break, rust, combust and fall apart in any number of ways.  Relying on equipment is risky, as it can always be destroyed, and then your hero is just a mope in a shredded suit.

A piece of equipment generally has only those abilities endowed by its creator.  If its creator is the Shaper of Worlds, well, then it can do pretty much anything.  But those items created by mortals have boundaries of size, power, defense, and usefulness.  Success in creating something always comes from careful research.

Of course, the user of the item doesnt have to be the creator.  The item can be inherited, ala the Black Knight's Ebony Blade; bestowed, along the lines of Captain America's shield; bought, such as Juggernaut's ruby of Cyttorak, or stolen, as with the Hobgoblin's borrowed Green Goblin paraphernalia.  In the strangest of series, a player may even play a piece of sentient equipment, such as Apocalypse's ship.