Target champion gains a copy of the nearest equipment in play. I casted Wish on Ironfist Colletor, and both Lonx Facilitator and Royal Geomancer had equipments, but still Wish granted Draksar High Priest's equipment (4 spaces away). If I remember correctly, the Draksar one was the last equipment to enter play.
Geomancer against lots, Rock Collection against few? Heh... Didn't work at all since Rockies damage in secuence, reducing a lot of it against Tough and SL units. I'll keep an eye on it anyway on future released runes.