I always thought it was Weapon, Horse, Body, Hand, Head than legs
It is like this for anyone who want to be useful ASAP.
I'd go with including weapon as shield as well, but I prefer not heirloom that.
@OP
I always retire at 32 most of the time, currently aiming for lvl 33-34 at generation 5 with 2 million gold, +3 rus scale, +3 arabian cavalry sword, +3 nordic war sword, +3 danish (exchanging this), +3 destrier