People have all different kinds of preferences man, max life axes, life per kill weapons, enhanced effect, etc. The most importand thing is to find a tier 3 item (bronze) as it will have the most damage (compared to tier 1 and 2) and then look for adds like the ones I mentioned. As your levels increase try and increase your tiers along with them, t4 at level 5, t5 and level 10, you get the idea

As for whats new, you can find it all in the LS portal.
http://ladderslasher.d2jsp.org/