Lugia2009, thank you for being so kind! I always get unsure and feel like I'm treading on someone else's territory when I make a large amount of suggestions, or even one "big" suggestion. I'll get to work on the icons right away, thank you!

EDIT: Never mind what was originally here, it works just fine. :p
Oh, and I had one more thing I didn't suggest in my haste - would it be possible to put the weapon icons
before the names? Like how I had it in my example...
The game, as of now, will show
Buster[sword icon]
And most fan translations (And FFII US) would use...
[sword icon]Buster
I know text may be out of the scope of the project, but it'd be possible to change it, right?
EDIT: I finished the new icons.

Top row (Miniature equipment icons) - Not gonna lie, the majority of these were taken from FFIV. The scarf was given a little color and a shadow. The gun is from Chrono Trigger. The fist is the gauntlet icon from the Japanese, unaltered version of FFIII and flipped a bit. The megaphone was given a gray band and a shadow. The materia... I still have no idea what to do with it. Right now it's a slightly blown up version of FFIV's Eidolon icon.
Middle row (Large equipment icons) - These are just the ones from the mockup above. Changed their outlines to black, filled 'em in with white and gray, etc.
Bottom row (Elemental icons) - I did the same as the above, except I didn't make these beforehand.