The Magic behind the Man; the Wanderer's magical items

Some brave souls, with a lot of luck and a generous helping of faith, have scoured the forgotten places and recovered for themselves a great wealth of magic.
Taran has proven to be one of the few who not only survived, but gained his prize.

The Wanderer's Ring
This ring was originally a plain gold band. Taran, with the help of a few old friends, added his personal seal to it before he knew of it's true powers. Now it is with him at all times except while entertaining an audience, at which time he places it in his pouch.
Although some of the powers of the ring are still unknown he has found out several unique abilities this item boasts.
When someone tells a lie or embellished the truth in the presence of the ring, it grows warm, slowly heating up as the untruth grows (this is why he keeps it in his pouch while playing).
It also protects Taran from being the victim of some spells and curses.
The ring gives him an advantage during negotiations, interrogations, and when searching through gossip for information. Much may still be unknown about this ring.

The true powers of this ring are simple. It can detect lies and very basic illusions (on a person only, like 'disguise' or 'polymorph self'). It is also slightly protective, giving bonuses versus mind altering and touch based offensive spells. It also provides a fair amount of luck, allowing the wearer a greater chance to accomplish very difficult tasks.

The Wanderer's Sword
This is a finely crafted weapon. It has a silvered broad blade and heavily decorated basket hilt. This is not the most interesting thing about it however.
This sword was crafted long ago in a now long dead and forgotten kingdom. A masterwork of high degree, it was enchanted with many forms of magic.
Thought to have been carried by a great hero, little is known of it's true power, although it's use in ceremonies is certain.
In the presence of an enemy the blade shimmers the palest blue. The edge is uncommonly keen, finding it's way through light armor (leather; considered one level lower) with ease.
It also gives Taran a fair amount of luck, as he always seems to find his way while carrying it.
Still trying to unlock the true power of this sword, Taran guards it closely. He considers it not only a powerful weapon but also a good luck piece he is not willing to part with.

Here the power has proven to be a bit more elusive, even to the GM who created it. The primary powers known at this time are the bonus to attack and damage, 'detect evil' (but it could be something else, not too sure), 'direction sense' (when it wants to work), and it is consecrated to some deity or other (probably dead now) and can be used by a cleric as a spell focus or 'combine' type effect.