Reviving this once more to discuss the ways the the equipping system is broken more generally. There are plenty of things that don't work but should, and a few things that do work that shouldn't. The mythical any-to-any armor swapping is still bogus as far as I'm concerned, but there are some ways to exploit the system for minor benefit.
The first thing that comes to mind is Boots. Normally, you cannot equip a character with more than 2 boots. However, the check for >2 boots doesn't apply under certain circumstances when pulling boots from other party members. This video demonstrates it at about 19:45: https://youtu.be/msAyPs5Tb7A?t=1186
Plenty of other characters have restrictions on what they can normally equip, but I have suspicions that, like the boots example, approaching it the right way can bypass some of the normal checks. In theory it's a pretty complex thing to check accurately, as you need to verify that both characters can complete the transaction. Even in some cases, an exchange that should work is blocked out. So there's something broken there, just a question of whether it's broken in a way that can be exploited.