No worries there: everyone sucks at the game until they don't anymore!
Any idea what weapon and armor you'd like to go for?
I'm really enjoying the hammer right now, I think it's a fun weapon. On the long run I'll probably use a sword.
Other than that, I'm not sure what armor is the best, but I like to have high defense. The element resistance is important in Torchlight but I'm not really familiar with how it translates in MH, because I think fire resistance and poison resistance may be important, but I'm not sure of the others. I'm still too new at this :)
Element is much more important in weapons and much less important in armor, as noname said. What is super-critical in armor is the kinds of skills that it will grant, which should match your playstyle.
For instance, i have a suit of armor for use with the Longsword, that because i only use the Longsword in the Arctic Region, grants resistance against Cold. I favor the Lance as well, and so i built a suit of armor that lets me play Lance more easily, by eliminating any damage received while blocking (whereas normally you take a little bit of damage even when you block an attack, the Agnaktor+ set lets me tank my way through everything except Uragaan's rollout and Jhen Mohran's belly flop. Even Agnaktor's dreaded laser or Ceadeus' sea-beam just bounce right off).