Darmanicus said:
And no it does NOT make the spell a level higher.
ooops you are right.
Darmanicus said:
That's not entirely true, I would imagine that it would drain the character in questions resources.
But the summoner is part of a group. If the summoner equips his summoned creatures he is bad equipped, if he has the same share of treasure as the other members of his group.
It is a difference if the summoner with no other rings wears a ring of protection or his summoned monster.
Darmanicus said:
And? You can only usually wear two rings anyway so if you have a spare what does it matter?
Yes it does matter. The ring is worth a amount money.
There are two possibilities if the party finds a magical ring and all members of the party already wear two rings.
A) The group can sell the ring and every member gets his share. Form the share everybody can buy the equipment he wants.
B) The summoner buys the ring from the group (so he looses money, money which could be used to improve the other equipment of the summoner) and give the ring to a summoned creature.
The other members of the party can buy the equipment they want, but the summoner looses money, so he can not buy better equipment and most of the time he also does not benefit from the ring.
Darmanicus said:
A bag of holding usually negates the old encumberance thing anyway. I'd also go on to say that you could only outfit a creature with what it could comfortably carry.
IMC it would not work because of the nature of the summoning spells but if it would work the summoned creature and the equipment returns at the end of the spell to their home plane. Their home plane are also inhabited and not like Drizzt´s panther home plane. e.g. A summoner gives a ring of protection to a fiendish animal. The animal returns to his home plane (hell or abyss). There exist the possibility that the animal can meet a demon or devil which slays the animal and takes the ring. I want to see the face of the summoner if his archenemy summons his demon/devil who now has the ring
Darmanicus said:
Or if he finds the creature in question. It's a bit like if I leave me money in the bank and then go travelling then when I encounter said thief he STILL can't steal that money.
There is a difference between leaving your money in a bank and giving the money to a summoned creature.
The bank is in a specific city. If the summoner travels far away from this city he has no access to his money. The thief make a bank robbery.

If the summoner gives his money a summoned creature he has always access to his money.