Mystic, the +1 fire is kinda like a proc in PL. It does extra damage. There are diff ones, mainly the elements. My favorite is the blood drain -- it can save your life together with a heal ring, if you're low on potions.

Also, When you master an item you get a skill point. So you want to try and master as many items as possible. Try to use the next item up instead of jumping to the best (Unless you're like Inching and have some other reason to do so). The easiest way to lvl up is to make sure you don't run out of useful equipment that can give you xp.

Hope that helps.