This will generate a random item (5% container, 35% weapon, 60% armor) with randomized stats based on mob level.

The item will be given a quality name based on the total stats it has, and further named based on slot and the highest stat on it. You can adjust how much level affects the stat bonuses by looking at a few of the loops used. There is also a modifier you can adjust based on mob flags or other criteria (I used elite and boss mobs). This should plug straight into probably any Dystopia with very minor modification, and was developed on Dystopia X-Mas Edition.

Updated to add random spell affects to items, too, and fixed a few minor bugs.
One more fix to how spell affects save, after I realized how bastardized GodWars handles them.
Updated with more detailed documentation; hopefully I didn't miss any steps this time.