TL;DR: The webpages for v1.7b are accurate. If you're willing to upgrade (cube recipe pages are named by input type) Basics/Exceptional to Elite, then there are a comparable number of viable Elite gear options between v1.7 and previous HU versions.
I designed v1.7 off of v1.3, so I'm not aware of how runewords or uniques moved around in the versions in between. One of the things in v1.3 that didn't transition well were runewords and uniques that quickly became obsolete (basic weapons had around 200%ED I think, while Elites were around 500% so upgrading wasn't valuable), so I disabled them in v1.7 because one of the goals of this version is that most items or runewords do not become obsolete (you get what you pay for - you'll be missing out on a potential +1AllSkills if you're still using "AncientsPledge" in an end-game shield but maybe the absorbs are worth it to you). With that in mind, you can upgrade basic and exceptional items and improve their stats (they generally gain a +1AllSkills or some PDR/MDR). Also note that nearly all white items have automods to help even the curve between runewords and uniques/sets (so if a runeword only has +1AllSkills, then that is because end-game shields all have +2ClassSkill as an automod).
I've played through v1.7 quite a bit, and it's pretty hard to screw up your character or be stuck with crap gear. I'd recommend focusing on a style of play you enjoy, or that you'd like to explore (I'm currently trying LtngStrike Zon, FanataRanger Paladin, and TStorm Sorc (just to see what if feels like when all of TStorms synergies are maxed, but I also found it fun to play a Convictor with the unique Stilleto so wanted to compare builds)).
One thing I've seen folks new to v1.7 ignore is the AI curse effects like Convert, MBlast, Confuse, Terror/Howl, DVision/CoShadows, and Attract, which are extremely effective at Trash crowd control if you're having trouble solo.
If there is a particular build you're thinking of gear for, consider a thread in the Strategy and Tactics forum asking for opinions on gear. Consider asking what decent alternatives there are for some specific item from another version of HU.
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