If no weapon is found, gloves are merged (if the weapon is found and bracers are equipped, properties from bracers are merged)
If the shifter is wearing a ranged weapon, its related ammo slot is taken and merged into the shifted creature weapon/s (NOTE: ammo created from the "Unlimited Ammo" property on a ranged weapon are NEVER merged)
If the polymorphed shape doesn't have a melee weapon, the shifter weapon properties are merged into ALL creature weapons, if the creature has claws and bite.
AC is only applied once, the highest value on items is merged (this might change in future patches, allowing AC to stack up to 20, and disabling Monk WIS AC to be merged)
Bonus from items can stack instead of taking the highest value.
The monk class cannot be used to gain Wisdom AC bonus or Monk AB progression while shifted.
Each shape will get an addition Armor AC bonus upon shifting (check the sheet below for more info). The AC is based on the polymorph type. Tenser Transformation and Shapechange have their own scaling, check Spells Changes for more info.
When a character reaches shifter level 30 all the available shapes will get improved, also the shifter gets 1 addition attack per round.
The shapes get additional AB and AC bonus if the character has Spell Focus Transmutation feats: +1 for Spell Focus, +2 for Greater Spell Focus, +4 for Epic Spell Focus.
Leveling while shapeshifted is forbidden! This, to prevent some possible character bic file corruption. Unshift before leveling up!