How about a custom equipment system for demigods. You could create as many pieces of equipment you want and use an editor to add/remove attributes. The equipement would be no better than the stuff already in the game. If you wanted to add +4 mana per second to your custom helm, around 550 would be added to the price of the equipment. If you wanted to add 50 armor, whatever amount would be added to the price. To balance things out a little bit, perhaps add a little more to the price if you add distinct attributes. Like a piece of equipment with hp and mana would be more than two pieces, one with just hp and one with just mana (since you're only using 1 slot instead of 2).
Just a thought, what do you guys think?
UPDATE:
Someone mentioned using favor points to create these items. I think that is a great idea, and that lead me to have another thought. How about you create the items with favor points, buy them with favor points, and keep them for multiple matches. Each second (or match) they are in use, they would take damage. You would have to spend favor points to repair them. Maybe if you die, they take 5% damage or something. Obviously this would be pretty overpowered (to start a match with a good set of items), so maybe the better the item (more stats, abilities) the more fragile the item is (hence, it takes more damage and costs more favor points to keep it on).
If you can't afford to keep repairing the item, you could take it off and wait till you earn enough points to repair it, or risk having it be destoryed and be forced to pay the full purchase price again.