Since this card obligatorily returns from the Graveyard to your Deck, you can use it in a "Superheavy Samurai" Deck, which benefits from having no Spell/Trap Cards in your Graveyard.
Be wary of your opponent's cards that could negate this card's activation however, since this card's effect will not trigger as a result.
While this card can be equipped to many monsters to take advantage of their battle-related effects, abuse this card by equipping it to weak monsters that have powerful battle-related effects, such as "Masked Chopper", "Truckroid", "Vampire Baby", "KA-2 Des Scissors", etc.
Equip to "Armed Protector Dragon" to have a monster that essentially cannot be destroyed in battle while protecting the Equip Spell from destruction by card effects.
This card is a really good counter against ATK altering effects like "Honest", since it is a continuous effect which will in most cases resolve last, except against similar effects. If for example two players fight with monsters equipped with MMS the effect of the turn player resolves last and he will win the fight.
This card can set up the Cyber-Stein OTK. Equip this card to that monster(Before or after summoning a Fusion Monster with its effect), and attack one of your opponent's monsters, before activating "Clashing Souls". Because of this card, "Cyber-Stein" will 'win' the battle, and your opponent's field will be empty, allowing you to finish your opponent off with your Fusion Monster.