The Invisibility cloak is a cape that may be worn to make the player invisible to mobs. However, attacking or using items will briefly lift the cloak, and mobs will see and track the player as normal.
The description of the armor from the Book of Lore says that the armor prevents lava and fire damage and is weak to water but that it has a secret. (*SPOILER!!* The secret is that when you have it equipped in the normal world and it rains, or if you submerge yourself in water, it changes into obsidian armor)
The Valkyrie Lance is a strong weapon with extended reach. It allows you to target up to 10 blocks ahead and deals 5.5 damage but, perhaps due to a bug, you can only hit enemies at normal range.
A strong hammer with a special ability that sends a projectile that pushes any NPC it comes in contact with, and damaging them as well. It deals 4.5 damage by melee and 2.5 by projectile. It has a total of 251 uses.