For example: does a character get any benefit to enfeebling magic by wearing the enfeebling torque in content that level caps below that item's level?

Does it scale down to the best possible stats that item slot could have had at that level cap?

Are there any instances of items being higher than the level cap but still best in slot because of their unique bonuses?

Generally you want level appropriate gear. There are things like Hauby (+1) at Lv. 50ish due to the stats it still gives but those are few and far between. Afaik, most +skill items give 0 skills until you are able to equip them.

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Most items provide almost no benefit under most level cap circumstances, especially 'unique' bonuses like an elemental staff or Regen on Orochi Nodowa, and +skill gear doesn't really work at all.

As for 'best in slot', I believe Kirin's Osode gives +1 all stats (at least at 40 cap, maybe lower) Haubergeon gives +1 STR/DEX/ACC/ATT? (correct me)

/checkparam <me> is a good tool to use to check ur stats, before and after equipment/food when under sync.

I remember mahatma slops at 60 cap beat any other available int pants, might be true for most pieces of that set.

Elemental staves in particular are what made me question this. I have been doing a lot of 40 and 50 cap content with elemental staves on and finding my enfeebling to be sticking often enough to make me wonder if the hidden magic acc stats were being factored in. But pretty much every post in this thread is telling me my intuition is off and that I should just use an appropriately level capped wand.

Staves 100% dont work. You can just test them by nuking with them equipped while under lvl 50, and then nuking without anything equippped. You'll do the same damage.

In general, Acc/Att scale VERY well, base Stats in the 7,8,9,-10+ range scale well @40,50,60. If there's an item that has stats in that specific slot and isnt lvl synced, generally that will always be better. In the above example Haubergeron gives like 1-2dex/str, and 3acc/att, better than anything at 40 or 50 cap by far. (Probably not luisant). IN the end, NEVER use a lvl synced weapon, it will always be worse.