Here is what I find works for me, I will use only "Identifier" words to make this easier:
Helmet = Reborn - Keep in mind during the Final Rounds of the Warriors Tournament your Hit Points will not regenerate from one fight to the next.
Chest = Reborn - So whatever Hit Points you have after beating the first guy, will be what you have to fight the next one with. Reborn is VITAL!
Weapon = Wolf - Do I really have to say anything here?
They are THAT GOOD!
Boots = Earth - Armor is always beneficial during duels.
Shield = Earth - Armor + Hit Points! AWESOME!
Gloves = Flame - Here is where Flame becomes valuable, allowing you to dodge more often during your duel.
Mount = Ruthless - Provides boost to Counter, which I think any Epic Hero user would agree, Counter is probably the best Ability out there.
Ability Scrolls = Counter, Replenish, Block - Always assign Ability scrolls that compliment your equipment choice otherwise you are not getting there full potential!
This is only my way of setting them up, and IS NOT LAW! However it will guarantee you a spot amongst the top ranked generals on any server!