Elemental: War of Magic Message Board  

When you enter the game, you can create a custom sovereign. After saving said fellow, you can edit the saved file with notepad or something similar as the file is saved in plain text.
The file is located in:
C:\Users\[your user]\Documents\My Games\Elemental\Units
and is named after whatever you called your custom sovereign.

You can edit all the main stats and skills, even sight distance and equipment from start.

As an example I have:
ClothHelmet
and I changed it to:
LegendaryPlateHelmet

You can find different equipment by looking after in the core files, located inside the game directory. (Examples of core files are: CoreArmor.xml, CoreMagicEquipment.xml, CoreWeapons.xml, etc)