Doesn't seem to be a lot of options that are worthwhile. A cav spear with poison is a very cost effective weapon. No decent armour is really available given a shield is a natural 4+. Talisman of Protection and the Lizardmen version with magic resistance is always tempting but it's a lot of points for 3 wounds. The potion of toughness is an interesting one, you're likely to be making a charge and could really turn a challenge. But still not a great item Is there *any* item you'd consider?
I prefer to run my chief with Terradon instead of Ripper, usually with Ruby Ring + Charmed Shield. I've ran an assassin type RipperChief with Piranha Blade + Charmed Shield. It's been decent at hunting mages and other softer heroes. Also gives very good combat res vs unit champions if they're foolish enough to accept the challenge. Also tried Chief+Rippers with Spelleater Axe against a spellcasting demon army. That one worked great but very situational.
Chief+Rippers with Spelleater Axe This may be a good combo i haven't considered, but you will lose poisoned attack. Personally i prefer glyph necklace if he is inside a unit. Another good combo is also bsb with the standard sun of chotec. Piranha blade...well i don't know, then i prefer extra hand weapon or terradon version with ruby ring to chase enemy wizards
I would think under any circumstances 10 points for a 5+ ward save and poison attacks (losing magic weapon and -1 ap) is a good deal. Certainly adding 4 for a cav spear Sun standard of chotec works so well, only issue is the rippers aren't going to last, and are getting far out of position. So you sort of waste the effect of the BSB to get the bonus