Beginning of your turn, before you move or action:
It's free to shuffle your equipment around as you like and to give someone adjacent something
After move:
It uses your action to shuffle your equipment or to give someone something that needs to be equipped (like Armor, shield, weapons, helmet)
After the Action:
No more changes possible for something that needs to be equipped
It is always a free action to give someone something that needs not to be equipped (like potion, spell scroll etc)
This is just to prevent things like attacking with Battle Axe and then switching to Shield for Zargon's turn; or enter a room with Battle Axe then switch to shield for the treasure search.
If there is a unclear situation, we can talk about it in the best meaning of this last paragraph.
I added this clarification to the starting post of the thread, plus some more (Explosive, Broach of Mending, Treasure Deck Link, Monster Card Link)
I didn't take a single EWP card this game, but i don't think it was necessary. Never seen an so intensive 2-room-Quest.

Nevertheless, i would start to take tokens now. Each round a token (easy to count), and a EWP card costs 10 tokens. Plus, the old rule still applies, if there was no monster on board or you were doing nothing with them, i take an EWP Card, too.
clmckay, that's no reason to open the box of pandora if you're the last one in your turn.

The EWP Cards cost a bit of blood, but nothing compared to a lonely door opening to the wrong room.
The Merchant has another fine thing for you if you like

* edit: I updated the text a bit.
Text: Roll three white dice. If one or more of them shows a walrus, the attack counts as success with three skulls.
Implicit: As nothing is stated, this weapon works on adjacent enemies only.
Symbols: No wizard. One handed, made of wood and metal, it's a weapon, it's heavy. Heavy is Sotiri's "Warrior only" Category.
Sotiris, who is in the warrior category? Rumseeker for sure? Chris the Ogre, too?