I worked up a couple of IoP's for a Champion of God character I am working on.  Obviously these are artifacts of St. George the Dragonslayer.  Basically the shield provides complete immunity to fire and supernatural toughness against any attack (melee or ranged) that the bearer is able to intercept with the shield. 

I made the spear more or less specifically for fighting dragons and dragon kind.  I know that is kind of limiting but it's a flavor thing but that is also why I only went with a -2 refresh and did not require a fate point for use.  I was also thinking of adding either Fear My Wrath (Incite Fear, ranged [-2]) or Righteous Strength (Inhuman Strength[-2]) to give it a little more oomph. 

Shield of St. George [-2] OR [-4] if the second Item of Power
Description:  According to legend this is the shield borne by St. George when he slew a great Dragon.  Currently in the form of a large heater shield embossed with a large red Cross.  Originally thought to have been a Parma shield in the style of the ancient Romans, the shield was reworked into its current form by Ignatius of Loyola sometime in the 1520's. 
Musts:  Your high concept must relate to your possession of this item.
Skills Affected:  Weapons
Effects:
[-0]Purpose:  The Shield of St. George must be wielded in the defense of the defensless.  The bearer must always be willing to come to the aid of those in need or it will fall from the bearer's hand and become disowned.  The bearer must perform a selfless act of valor to reclaim the shield.
[-0]It Is What It Is:  The Shield of St. George is a large shield constructed of wood, leather and steel.
[-0]Unbreakable:  As an Item of Power, this item cannot be broken except with a magical ritual predicated upon perverting its purpose.
[+2]One-Time Discount:  The Shield of St. George is large and cannot be concealed easily.
[-4]Stalwart Defender:  This shield grants the bearer protection far in excess of that of a normal shield.  It grants the bearer Supernatural Toughness.
[+3]The Catch (Line of Sight Only):  The bearer must be able to see the attack and be able to interpose the shield to receive the shield's protection. 
[-8]Holy Aura:  The shield surrounds the bearer with a holy aura, protecting him from harm.
[+5]The Catch (Protects from fire only):  The shield's arua can only protect the bearer from the harmful effects of fire.

St. George's Spear[-1] OR [-3] if the second Item of Power
Description:  St. George's Spear is a Roman Hasta with a shaft made of ash with a broad steel head and a bronze counterbalance.  The tip was originally iron but was reforged by Ignatius of Loyola in the 1520's.  The weapon is of superior make with a perfect balance so that it can be wielded one handed.
Musts:  Your high concept must relate to your possession of this item.
Skills Affected:  Weapons
[-0]Purpose:  The St. George's Spear must be wielded in the defense of the defensless.  The bearer must always be willing to come to the aid of those in need or it will fall from the bearer's hand and become disowned.  The bearer must perform a selfless act of valor to reclaim the spear.
[-0]It Is What It Is:  A weapon 3 Roman spear.
[-0]Unbreakable:  As an Item of Power, this item cannot be broken except with a magical ritual predicated upon perverting its purpose.
[+2]One-Time Discount:  St. George's Spear is very large and cannot be concealed.
[-1]True Aim:  This is a superior weapon.  As long as the wielder is worthy this spear provides a +1 bonus to all Weapons rolls.
[-2]Dragonslayer:  When wielded against any Dragon or Dragonkin it bypasses all supernatural defenses that creature may possess (toughness, physical immunity) nor may the creature benefit from any supernatural regenerative abilities (recovery) regarding wounds inflicted by the spear.

Edit:  Clarified IoP cost and Physical Immunity Catch.