I don't know what level you are, but I'd go with Jade mace over PWC until lvl 20.
If you are getting powerlvled then ignore my above statement since you'll hit 20 pretty quickly. However if you are not getting powerleveled, 1-20 can take some time so it may be worth it to sell your pwc and pick up a jade mace. Jade maces are purchased and sold pretty quickly so it shouldn't be that difficult to find one and then resell it at 20.
Ref info:
http://wiki.project1999.com/Game_Mechanics
Damage cap = (dmg * 2) where dmg is the weapon's stated damage.
levels 1-9 - damage cap is 20
levels 10-19 - damage cap is 28
Levels 20-29 - damage cap is 60
Here are some cheap suggestions:
http://wiki.project1999.com/Dusty_Rusted_Vambraces
or
http://wiki.project1999.com/Embroidered_Black_Sleeves
http://wiki.project1999.com/Grey_Fur_Cape (HBC's little brother)
http://wiki.project1999.com/Diamondine_Earring (x2)
http://wiki.project1999.com/Fur_Lined_Mask
http://wiki.project1999.com/Wolf_Fur_Slippers
or
http://wiki.project1999.com/Kobold-Hide_Boots
http://wiki.project1999.com/Jarsath_Scale_Gauntlets (if you can safely get to KC these are GREAT twink gloves that rot all the time)
http://wiki.project1999.com/Kylong_War_Helm
http://wiki.project1999.com/Gatorscale_Leggings
http://wiki.project1999.com/Glowing_Bone_Collar
http://wiki.project1999.com/Tattered_Mantle
http://wiki.project1999.com/Sebilite_Scale_Belt
http://wiki.project1999.com/Amethyst_Bracelet
or
http://wiki.project1999.com/Golden_Jaded_Bracelet x2
All of these items are pretty cheap and give you great bang for buck value at lower lvls due to +HP. Since you will mostly be meleeing at lower lvls, this is one of the stats that will help you the most. Be sure to have >75 Agility to avoid the AC penalty (Although you'll soon get an AGI buff for that, if you don't already have one).
You labeled this as Shaman twink gear so I think this list works well. I don't think AC will really benefit you until later in your career. Also I don't know if the AC hard cap exists but you can see something in this OLD thread:
http://www.project1999.com/forums/sh...ad.php?t=48312
Anyone else can please chime in, I am also twinking a Shaman right now so any advice or corrections would be appreciated.