1. Most of the ‘civilized’ areas you encounter are functioning at a bronze age level. Iron is a new and rare thing that only a few people possess (namely you guys have iron weapons so try to remember you are toting some high tech gear)
2. ‘masterwork’ weapons are generally a type of steel and only made by a few people like.. High elves for instance who possess this guarded knowledge
3. Armor.. most armor types in these types of societies are fairly light! No one is wearing the full platemail like you would see on a knight of the late middle ages or renaissance.
Plate armor is really rare! Because it is made of bronze (highly effective), but also really heavy and hot. It is primarily used by heavy infantry in only a very few societies. If you need a point of reference. Lookup the type of gear that a greek hoplite or spartan warrior would wear.
Most armor comes in the form of padding or leather that are soaked or boiled. To the far north there are a few tribes who possess iron working knowledge and the craft of chainmail. A chainmail shirt is generally again very high tech, it is extremely rare in most parts of the world.
Ok, so what does this mean to you players?
Well if you pickup a bronze sword of say a guard.. after one good use.. it will be dull and you’ll find yourself needing to sharpen it :)