I just want a wide variety of weapons and armor. I love having choice. The choice between wielding a single handed axe, or a flail. Or the choice between a mace and a club. I like being able to see the difference appear on the character, and I really just like having my characters look and feel like they're really in the story. Like they're ready to go fight an army, or slay a dragon. As long as there is plenty of variety, and lots of choices when it comes to what i equip my character with, I'll be happy.
On a sidenote, since they are implementing crafting options, I would really like to see the opportunity to customize to your own armor/weapons, and really make them unique. If you're more of a barbaric character, maybe you take the teeth of some of the rare creatures you slay and create a necklace. Maybe adding a notch to your axe for each major enemy you slay, or something along those lines.