Not meeting req. of a weapon/shield...

I read on Gwiki, it just halves the stat (darmor or damage) if the item was dropped, is that true?

Does that mean you still get all the other/mod effects?

and if all it did was halve the damage, wouldn't a high level weapon still be insanely overpower on a low level character?

I haven't looked at wiki lately, but if you don't meet the requirement, the stat on the same line as the reqirement (damage or armor) is reduced to starter stats, which is much, much lower than a simple halving of the value. The only exception to this is gold and purple items, which will be reduced to a value slightly higher than starter stats.

Of course, mods that aren't on the same line as the requirement are unaffected, and you will always get their full benefit.

I know that shields give u half the armor (ex. shield has 16 amor, you only get 8 without reaching the req.) and off hands you get half the energy (ex. 12 energy you get 6 wihtout the requirement)...the other stats u get since the requirement is only for the armor or the enrgy so the health/recharge/fast cast you still get without reaching the req.

Now for weapons u get the mods not affected by the requirement but for damage wise im not positive about but i know you do very little damage...

That information was taken from my damage article, based off of the information here and my own tests.

Other modifiers and upgrades on a weapon or shield are not affected by the requirement for the damage or armor. Even if you don't have 9 Fire Magic, you still get the 20/20 fast cast/recharge on a Flame Artifact.

It doesn't flat out halve the damage, just the base damage range. You still have the effect for your weapon attribute listed in the Game Mechanics guide, or as described on the Damage article on Guildwiki. Essentially, for non-caster weapons like Swords and Bows, if you have 0 in your weapon attribute you deal about 35.6% of the base damage, cutting down the damage even further. For staves and wands, at level 20 you deal 100% of the base damage so you don't have to worry about attributes for those.

That's actually the value for purple/gold items only. Others will be reduced more, down to +3 energy for offhands.

Basically, casters of any sort with a perfect modded weapon would have the advantage when equipped at a low level?

Excluding uniques of course.