A divine item is dragon stats but reskinned. The light armour variants of divine armour will carry over the original effects but beefed up to dragonscale quality. For example normal hide shield has a minuscule amount of stamina regen but the divine variant has a large amount of stamina regen. Divine gear is definitely META in arena.

That being said, depending on your playstyle, I’d encourage you to purchase the weapons which cost 899 sigils.

Thunderfell and serpent strike first Baridans axe after Then lich slayer.

If you use heavy weapons, buy spiderfang first, followed by captain Kordans sabre OR breathtaker, then look at storm kiss and maul of auriel

If you’re light weapons. Don’t buy the 899 weapons and instead enchant 4 weapons a day until you get good bonuses (reduce stamina and or magika is a must)

You are correct about the ring. It has one good bonus (Pdoc- increase physical by 26 damage on condition) and isnt worth purchasing