Lol! I was going to go through all the trouble of creating a new type of item, modifying the party, and everything else, but then I realized that because of the database extensions, we can just create them as armors in the normal database and tack on a few small things with scripts. Best idea ever.
EDIT: I've handled the basics of the equip screen. I'm displaying duplicates individually because I thought it was a good choice (so if there are 3 of the same titanium, they will show up as 3 separate items instead of 1 item with a 3).