In the Suggestions area before starting the the quest it is currently stated:

 

"

Suggested:

Quests: As a First Resort... (use pool for extended 100% energy boost)

Items: rune hatchet or better, super energy potions, amulet of glory, a one-click teleport and some good food such as sharks, tuna potatoes or Saradomin brews. Do NOT bring weapons and armour; you don't need them, and they will only weigh you down."

 

With the implementaion of EOC it is now suggested to wear armour for the LP bonus and the extra healing you will get from food while wearing the armour. I did this quest today on my noob account and found it much easier to do while wearing armour after trying it without first because of the extra LP boost and extra healing from food with it. Weapons are still not needed. I used Black d'hide as it gives good LP boost and is still cheap if you can't make it to your grave in time if you die.

I confirm what Dave said. I just completed it and didn't use any armor or weapons. It was not easy, but doable. It would have been FAR easier with armor for the extra LP.

 

As far as getting equipment if you die. Not including any items (glory) you can use the edgeville lodestone and just run east along the wilderness wall (below it), you will get there in time to get your gear back. Having said that black d'hide does pretty good in LP so you should be fine.