If it's a pvp mage (and it sounds like it, since you were considering the pendant) you are going to be more limited than you think.

Best items are generally artifacts, and for a mage, the typical suit includes:

Head - HoM or Kasa of the Rai-jin
Neck - Pendant of Maji
Chest - Runebeetle Carapace
Bracelet - Ornament of Magician
Right hand - Boomstick/Scrapper's
Left hand - Shield of Invuln/Arcane Shield
(or replace both w/staff or Pyros or Staff of Magi)

That leaves you:
Ring (crystalline?)
Legs (Royal leggings, but no MR)
Arms (Midnight bracers, but crap resists)
Gloves (Stormgrip/gloves of the sun, again no MR)
Cloak (vet)
Robe (vet)
And, of course, Duped Vine cord sandals that everyone except me seems to own

I've got a nice suit that is currently 58/63/70/70/75, 2/6, 100 LRC, 40 LMC, MR 11, SDI (crappy) 27ish, so it's not impossible using the artifacts above. Eventually, I'll get enough cash for a crystalline ring.

Of course, this is only for a pure mage template. Anything using a weapon skill is going to use completely different arties.

Hmm...maybe this is an item-based game now?

~M