Do you think it's better to get a wep or piece of armor, grow it to mid way (about 4*) and then get a new wep/piece of armor OR grow a wep/piece of armor to its fullest (5*) THEN get another set?
Poll: Getting a wep or armor to 5 right away?
I recommend 'growing' all your gear at the same time. Generally.
No point being able to dish out hits if you can't take any.
You want to spread out and try many different weapons, so that you get an idea of the variety available, before sinking too many resources into something, only to learn later that something else is preferable.
On the other hand, I've spoken to too many players who try to collect every 2-star item, and then every 3-star item, and so forth, not realizing how expensive this gets at the 5-star level. So you can take it too far.
My advice is to construct one 5-star set that lets you go anywhere you like in the Clockworks. Get all of the items to 3-star (either by crafting or buying), then upgrade them all to 4-star, then upgrade them all to 5-star. Then, once you have one 5-star set, select a new item that you want, and get it to 5-star. Then select another item you want, and get it to 5-star. Of course, if you ever decide that you dislike an item, then stop using it after 4-star.
Personally, I grew a full set of cobalt equipment all at the same time (before mission update). Once I had gear that was pretty decent against everything, I began fully leveling one piece of gear at a time.
Well, what I would personally do is try to get myself to the point that I can farm FSC. Then, second, I get myself to the point of getting Snarbolax gear by obtaining Skolver gear. Then, I do SL Snarb and get Snarbolax.
For example, on my main knight it goes like this:
1. Vog + Volc. Plate Shield + Crest of Almire
2. Skolver so I can do SL Snarb with better defenses + Barbarous Thorn Shield.
3. Snarbolax + I already have CoA from Vana.
Then during all of those you just get up 1 piercing, 1 shadow, and 1 elemental sword and then a fourth (I'd choose Polaris, it'll really help on howlitzers in SL Snarb / if you prefer gunning Vana)
Or you can be hipster and get a Triglav / Suda :3 <----- highly recommended
You can do a LOT with 4* gear, for about half the price of the 5* crafting step. Because you face a wide variety of monsters, I'd recommend a diverse set of 4* gear to keep you safe in the weeks or months you spend leveling items etc. Then level just the few special items that would be dramatically more useful at 5*.
For example, haze status bombs gain an incredible blast radius, which makes them effective for reasons far beyond the modest boost in power that most weapons see. Some armors also gain special bonuses or specialties not even hinted at in their 4* versions. (divine veil etc) But not every item needs to double in price to meet your needs.
^ 4* items are indeed pretty good...but not if you want to:
Do good in lockdown
Do shadow lairs
Look cool (Most 4* stuff looks pretty dorky, lets face it)
Win fashion contests
Not be kicked by prejudiced clockwork-dwellers
Yeah...just go 5*.
The second last hall of heroes in rank mission will require you to equip all 5 star to finish. (1 weapon + helmet + armor + shield)
If you have done that mission, you can do whatever you like.