I'd have to say that any bow you enchant with soul cap and damage ench's will be more than fine. Azura's Star really helps a lot, especially if you have multiples (Bow dupe cheat, I'll describe below), and same thing with armor, though there are some quest armors you can get that do wonders for you, and their durability drains very slowly. I seem to remember having a set of leather armor from the Brotherhood on the XBOX version that granted several stealth enhancing enchantments, and that you could only get from either killing LaChance or completing the whole Brotherhood quest, and that armor lasts for quite a while if used right. Mixed with the Grey Fox's Mask, whooboy, that's some major critical there.
As for arrows, daedric, until you can find enchanted arrows. Careful with them though--even though they might do maddening amounts of damage, they disappear instantly when shot into an enemy, and after 3 seconds when dropped or shot into the open air. They're also generally very hard to find. If you have 2 different kinds of arrows, you can use the dupe cheat I'll describe below to make some more.
The best sword in the game depends on your Blade skill, but generally speaking, either the weightless daedric sword with enchants, or the glass sword with enchants. there are probably swords that can do more base damage in the game than a regular daedric/glass weapon would be able to do alone, but with powerful grand souls, and a few full Azura's Stars, you can set up any number of awesome damage combos. For instance, set up a soul cap and damage fatigue, and the enemy will simply pass out. From there, you can just coup de grace them or pop them in the head with an arrow. OR if you're low on health, you could do soul cap, stun for 10 seconds, and drain health for 10 seconds, so whenever you hit them, they're paralyzed, and losing health which is given to you.
As for the TESCS for Oblivion, here's the link Link
As for the bow dupe cheat, this only works with the unpatched, retail (right off the shelf and installed) version of the game, as they patched over this apparent "glitch". What this does, is duplicates a non-unique (e.g. that audible plant you have to collect to make that special potion, they are all given a special unique ID signature, and are therefore immune to duplicating, as each item you duplicate is given a new ID at it's creation) non-quest (e.g. The Amulet of Kings, etc) item in your inventory to however many arrows of whatever type you have equipped. That item, and it's subsequent duplicates will fall to the ground for to to collect as many as you need of them. Needless to say, if you have 400 Iron Arrows equipped, and only one Potion of Lesser Healing, and you duplicate, this can create quite a few lag problems, as not only does the game have to give each single potion a common ID signature, it HAS TO BE ABLE TO RENDER 400 POTIONS OF LESSER HEALING! Along wiht calculating it's weight and physics. So do this in moderation, and only try to duplicate as many as you need. You can drop however many arrows you need to get the amount you want to duplicate first, so that you don't have areas and towns where you can't get anywhere due to 10,000 watermelons being there.
To do this, have at least more arrows than the item you want duplicated. I have tried this with every arrow type I could find, and there ARE some arrows that don't work with it, such as the Scarlet Rose. So let's say you have 50 Iron Arrows, and one Potion of Lesser Healing. Make sure you have a bow and those particular arrows equipped, doesn't matter what kind of bow, they all work. Now, in-game, draw and nock an arrow, but don't release it. Press Tab(default) to go to your inventory screen. Once there, try to unequip the arrows you're using TWICE. It will say something abut not being able to unequip it due to you having that arrow nocked and waiting. This is fine. Now, go and find that Potion of Lesser Healing, and simply drop it. It's better to do this in flat, bright areas, such as the Imperial City, and Leyawin, so that you can see the arrows and potions easily. After you drop the item, immediately, without messing with anything else, exit your inventory, and go back in game. You can let the arrow fly now, but it's not necessary. As soon as you get back in game, you should see the 50 spawned potions you now have, on the ground. Congratulations. A couple useful tips--only spawn a maximum of 150, or else your game could easily crash. Also, you can do this with arrows, as longas you have 2 different types of arrows, such as glass, and daedric, equip the higher amount, and dupe the lower amount. This is a useful way to get more(oh so hard to find) enchanted arrows.