I'm hearing people say, that after your first retirement,
rather than use your loom point to +1 an item, you're better off offering
your loom point on the market for a +1 item and some gold. Is that true?
It might be true since, after some recent patch, you get the most bonus when you +1 an item, at +2 and +3 it only gets smaller bonuses.
+1 bonus: 1 speed, 1 thrust, 1 cut, 0.2 weight
+2 bonus: 1 cut
+3 bonus: 1 cut
Now as I think about it, it might really be the best way to trade a loompoint for +1 item plus some gold. The only problem I see is that there are not too much +1 items on the market, so it might take some time. If you don't find someone to trade with for the next generation after retirement, then trade 2 loompoints + gold for a +3 item, that should take not much time.
Also, I'm seeing an awful lot of people saying it's better to loom gauntlets before
body armor. Why is that?
The main reason is probably that having a +3 gauntlets is much more versatile thing than having a +3 armour. People often change their outfits, and it's not easy to trade a full +3 set for another full +3 set, but since you can use most gauntlets with most sets, you will most likely not have to trade it. You can use the same gauntlets as an archer, as a cavalry or any other build. Thats why gauntlets cost just a little less than raw 3 loompoints and are the most expensive part of armour on the market.
However, loomed body armour gives you +5 to body and +5 to legs, while gauntlets only give +5 body armour. People often seem to underestimate the leg armour importance, but to me the armour bonus of body armours seems to be more important.
Anyway, my main point is: don't loom anything by yourself unless it's a very rare thing that is unlikely to be traded on the marketplace. And since body armour is cheaper than gauntlets - get body armour first. Well, then again, after this patch I'm not so sure it's not worth it to loom something by yourself... need to think about it.
What weapon are you going to loom, by the way?