Leaving aside weapons and armour for the moment...
Gear either matters, or it doesn't. And, in most games, it really doesn't - the player may spend hours picking out his 'perfect' set of equipment, lovingly transcribe it onto his character sheet, calculate the encumbrance to the ounce... but he'll then never again reference it in play. Because dealing with torches, or counting iron spikes, or asking if they're carrying chalk is just not something the group associate with high adventure.
(Conversely, there are other games where it really is important - games with a much more survivalist/horror bent, or which try to 'realistically' model the process of dungeon-crawling. Games in which the difference between one torch and two really can be the difference between life and death.)
For the first type of game, even these suggestions are overkill. By all means have players pick a weapon/armour combo for their character, and assign them a small amount of money. But, frankly, it would be better to give them an "Adventurer's Kit" and just assume they have all the other stuff they need. Done.
And for the second type of game, these suggestions are useless. If it really does matter what gear characters have, then any model where it's assigned in packages is unhelpful - if the decision is important, the player needs to make it.