Here's a list of magic items and some of their effects.

Item Effect

Great Sword - +2 attack
Shield - +4 defense
Wand - +2 attack
Cross - +2 defense
Amulet - +2 defense, increased influence area
Warsong - Big + for attack and defense
Dragon Slayer - Bigger + for attack
Evil Axe - Enormous + for attack, big - for defense
Orb - Magic takes half as much energy