I reccomend equipping them based on their stats. Got areally fast char? Give them daggers, and light armor (faster, more HP).

Got a someone with high magic, give tehm a pole, and mystic armor (Mystic boosts magick, and poles deal damage based on magic stat).

Got a high attack char? Give them a greatsword and heavy armor (High attak+evasion, and armor raises strength). Instead of randomly assigning crap, build on their predetermined strengths.