Weapon and charm look good, I agree with you about switching the armor. That amount of dex at such a low level is negligible in effect.
Try a Tier III armor with better defense and some strength OR LPK OR LPA or any combination of those if you can find one.

My typical setup lately for 1-10:
Weapon:
50+EE Tier Sword/Axe/Club
Armor: (Don't even use one for 1-5, this is for 5-10)
Arcane bine scale armor
Level Req: 5
Defense: 5 to 20
+7 Strength+1 Mana Regen
+1 to 8 Life per Attack
+1 to 21 Life per Kill+1 to 44 Mana per Kill
+1% Life Steal
Charm:
Magical fire III
Spell Damage: 10 to 28
Mana Cost: 25
+13 Strength
That's it. The armor and charm were just random cheap crap I bought and never needed to upgrade. There's way better stuff out there but in my opinion it's not worth a couple thousand FG to do 1-10 like 5 minutes faster.

Save the FG for upgrading higher level stuff for when the levels get more challenging. 1-10 is no regen and fast for me using this gear as a Fighter. Never tried a Rogue but the principles are the same.