Meh, since this seems like the right topic for a big post like this I might aswell. Here is the list of the gear I'd bring if I was "fully suited up" and ready for most any occasion. Gonna list gear, main stat of interest, and also explanations.
Weapons:
7HQ staves + nq light - Duh
Kirin's pole - +10mnd
Sub:
Bugard Strap +1 - +1int
Ammo:
Phantom Tathlum - +1int
Head:
Sorceror's Petasos - +10 Elemental magic
Wizard's Petasos +1 - int+5, enmity -4, hmp +1
Zenith Crown - -50hp
Demon Helm+1 - +6int
Igqira Tiara - Evasion +10, Enfeebling +10, Curse
Mahatma Hat - +4mnd
Neck:
Uggalepih pendant - +8mab at 50% mp
Enfeebling torque - +7enfeebling
Elemental Torque - +7 elemental skill
Beak Necklace +1 - hmp+2
Earrings:
Novio earring - +7mab
Novia earring - -7enmity, +7evasion
Abyssal earring - +5 Dark magic
Antivenmo earring - hmp+1
Moldavite earring - +5mab
Body:
Sorceror's coat - refresh
igqira weskit - Mab+6, elemental+5
Errant body - +10mnd, +10int, hmp+5
Wizard's coat - +10enfeebling
Gloves:
Wizard's gloves +1 - +15elemental, +3int
Sorceror's gloves - +10dark
Zenith mitts - -50hp, 5mab
Rings:
Aqua ring - 5mnd
Snow ring - 5int
Tamas ring - 5int/mnd -3enmity
Sorceror's ring - +10mab 75% hp
Ether ring - -30hp
Serket ring - -50hp
Capes:
Merciful cape - +5elemental, +5dark
Altruistic - +5enfeebling
Invigorating cape - hmp+1
Cheviot cape - -5% dmg, -10%dmg at night
Prism cape - +4mnd/int
Waist:
Hierarch belt - +2hmp
Hyorin obi - ice weather/day
Rairin obi - thunder weather/day
Anrin obi - dark weather/day
Penitent's rope - +5int/mnd
Legs:
Igqira lappa - eva+10, Curse, Enfeebling+10
Sorcer's tonban - day effects
Mahatma slops - +8mnd/int
Wizard's Tonban - +15 dark magic
Baron's slops - +1hmp
Feet:
yigit crackows - +3int +2mab
Rostrum pumps - -30hp, fast cast
56 inv spaces (echo drops, pearlsack, and food bring it to 59 >_>)
Not going to digress on dark/enfeebling/nuking gear as I hope that's obvious as how to use it. I tend to swap in sorc petasos -> merciful cape -> elemental torque -> wizard's gloves+1 in that order. If I need to use all then I do, if only some if fine I follow that chain of replacing to keep my damage high aswell.
As far as yellow hp for sorc ring goes, my setup is inefficient as I use multiple items solely for lowering my hp, and I think I overkill it but I'm too lazy to figure out the maximun hp I can have on (with penitent's and zenith mitts on).
For my mnd set, the target is to have 114mnd, using /rdm sub, the gear I have adds up to exactly 55mnd, plus the 59mnd a 75 blm/rdm taru has. Not a single mnd was wasted, however it's not 100% efficient, as there are 3 items which are there solely for mnd in the setup.
As far as for my gear while being damaged, or just being idle, I throw on only 1 extra item (cheviot cape), and the rest is made of other parts of my set. The gear used is a terra staff, igqia head/legs, beak necklace+1, novia, af2 body, Zenith mitts, snow/tamas, cheviot cape, anrin obi, and yigit cackrows.
The set pieces were chosen for their defense stat, minus damage reduction, or evasion. Zenith mitts were used since the 50hp is lost anyways from any previous macro, so might as well keep them in as highest defense gloves I own.
I have more blm gear that I didn't list, though I rarely use it, and due to space issues I often leave certain sets in MH. I tend to place a low priority on my dark setup, and my yellowhp/sorc ring stays at home often due to lowering hp can be bad in plenty of situations. I often leave my elemental gear too as I usually know ahead of time what I'll need.
Blm is a job that's really limited by how much you can carry on you, and every piece of gear is situational.
If you're just starting off on obtaining blm gear, I'd start off with nice damage gear that's cheap/easy to obtain. weskit, manillas, AHable int gear, etc...
After that I'd go on to focus on elemental magic a little, buying some cheaper items for it, like druid slops, elite beret, and an e.torque.
Enfeebling gear is fortunately cheap, can get a tiara and use af coat, and you'd do just fine for most things.
Dark magic isn't a huge deal, though most of the gear is obtained from af/2 which you will win on the process to obtaining other gear.
As for mnd set, can get lots of mnd gear for cheap, however it's not as vital for most occasions, though it really helps out.
Overall I'd say you can gear up a blm pretty easily and fast, finishing it up is another story, but the first 90% is easy, and with that you'd do great, and be useful in just about any situation. The last 10% is more often than not just for e-peen. If you work on all aspects of blm abilites, you won't need expensive/rare gear in order to do better than a blm that's has a pimped out "check me" setup, but very little supporting equipment. It's not all about pumping out numbers on blm, infact the only place I ever specifically try to do damage is exp/solo, elsewhere I let my dmg slide lower in order to better perform for the group as a whole.
Wrote this all at 3am lol, meant mostly for the OP and anyone seeking blm gear advice, and to point out just how much supporting gear matters. Alot of people don't realize the importance of having gear other than nuking gear. Also not sure if I said it or not, it's not the gear itself that matters, rather the stats. If you see something on my list that is a lil expensive/hard to obtain, you can look at the stats I aimed for overall on my slots, and find a suitable replacement that's cheaper or easier to find.