I'd have them pick a rough time period of Medieval Europe and then build an equipment list that reflects the time period more accurately.
Silver standard for pricing.
I think you missed the seminar on what "cosmetic" constitutes. Such a list would incur significant game changes.
Not so much in the way I'm thinking. I'd keep the mechanics and the same range of modifiers or die rolls. I'd just drop some items, rename others, and possibly add some variants. I consider this to be mostly superficial.

(Dungeons & Dragons)
Rulebook featuring "high magic" options, including a host of new spells.