The Hylian Shield and Master Sword are staples, so they are my favorites but I'll highlight a few others.
I took a liking to the Goddess's Shield as well as the Fighter Shield.
Mirror Shield is always interesting! All incantations are beautiful really (though I don't recall getting a good view of it in Oracles).
Execution Sword is pretty neat (even though link never uses it) - TP
Ordon Sword is a nice beginning sword (very average in design for new fighters)
Great Fairies Sword is by far the most flamboyant sword (was a fun add on in Soul Calibur II)
I've always been fond of the Magical Sword and shield, mainly because it's a classic combo. It goes great with the original Link.
Very true, but I could never get over the cross on the shield to truly appreciate it. Remind me too much of the Red Cross Knight, Crusades and the Templars, etc; just a common Cross shield or St. George Shield which I felt doesn't add as much or the 'correct' things to Links personality and the franchise's unique goddess system. I just prefer seeing Hyrule's unique symbols I suppose.