This is starting promisingly...

[Ugramoth]

Cloack of Protection [1,+3]
Found lying on the floor at 100 feet (level 2)

Short Bow of Lothlorien (x4) (+8,+7) <+3, +2>
Dropped by a scruffy looking hobbit at 250 feet (level 5)

+3 dexterity.
+2 shooting power.

Prevents paralysis. Sustains your life force.

Lead-Filled Mace of *Slay Orc* (4d3) (+4, +8) <+2>
Taken from chest at 550 feet (level 11)

+2 dexterity
Slays orcs.
Grants telepathy

Star of Araninil <+3>
Dropped by Golfimbul, the Hill Orc Chief, at 800 feet (level 16)

+3 Light.
Provides resistance to Lightning, Cold, Nexus.

When activated, it maps the area around you.

[Ugramoth]

And continues...

Small Metal Shield of Elvenkind [5, +17] <+1>
Dropped by Nar, the Dwarf, at 850 feet (level 17)

+1 stealth.
Provides resistance to Acid, Lightning, Fire, Cold, Nexus.

So the resistances on the light source became reduntant...

Oh, good! Can use this then!

Phial of Lossil <+3, +1>
Dropped by Wormtongue, Agent of Saruman, at 850 feet (level 17)

+3 stealth.
+1 speed.
+3 light.
Provides resistance to Lightning, Shards.

When activated, Lights the area.

HE Mage, by the way.

[Estie]

I would use the phial over the star regardless of my resistances.

[Ugramoth]

I value Nexus resistance pretty high.

Too many times I've been kicked out of the level right after I've killed/TO'd everything from a vault and right before I looted anything...