I've been playing for 4 days now and I currently have equipped:
Rock Jelly Helm (UV: Increased Freeze Resistance: Low)
Brute Jelly Mail (UV: Increased Curse Resistance: Medium)
Rock Jelly Shield
Ascended Calibur
Needle Shot
Should I go for the 5* versions of these or not? I'm thinking of getting the Silversix/Avenger alchemy line (on the side) since they looks cool.
Total Weapon/Armor Arsenal:
Swords:
Ascended Calibur
Calibur
Big Beast Basher (Unbound, found in an arena)
Proto Sword
Handguns:
Needle Shot
Blaster
Proto Gun
Bombs:
Static Flash (friend gifted me the Starter Pack)
Helmets:
Rock Jelly Helm (UV)
Cobalt Helm (UV: Increased Curse Resistance: Low)
Spiral Sallet
Armor:
Brute Jelly Mail (UV)
Cobalt Armor (same UV as above)
Spiral Culet
Shields:
Rock Jelly Shield
Great Defender
Green Ward
Proto Shield
I know someone that uses the 5* Jelly gear, nothing wrong with it.
As for your swords, bringing the Calibur up to Leviathan is a good choice, it's probably the most versatile weapon in the game.