Items: a list

[pinnaculum]

1. 2 sets of dark, practical clothes
2. Pair of goggles.
3. A practice sword.
4. A battle ready sword, with three Materia* slots
[4a. Materia equipped to sword: Time, Exit, Revive]
5. A Rune Armlet, armed with four Materia.
[5a. Materia equipped to armlet: Restore, Heal, Seal, Barrier]
6. A volume of Professor Gast's essays.

*In his world, it was decided that the "reborn" Sephiroth would not be allowed to carry damage dealing Materia.

Other items:
Sephiroth has gained the Materia Fire.