http://www.guildwars2guru.com/topic/46603-faq-equipment-attributes-and-you-updated/

Very important and informative article.  Highly suggest you read it.

Basics
Equipment Rarity
Each item has a quality which indicates the rarity or nature of the base modifications available on the item. The following is the rarity in ascending order:
 

• Junk = Gray
• Common =White
• Fine =Blue
• Masterwork =Green
• Rare =Yellow
• Exotic =Orange
• Legendary =Purple

Attribute Allocation
Is all gear the same?
No, as you level all gear increases in terms of stats and defence rating.

 

Below is what other pieces of exotics have at level 80.

• 2-H Weapon = 179/128/128
• 1-H Weapon = 90/64/64
• Head = 45/32/32
• Shoulder = 34/24/24
• Chest = 101/72/72
• Hands = 34/24/24
• Legs = 67/48/48
• Feet = 34/24/24
• Rings = 60/42/42*
• Earrings = 54/36/36*
• Amulet = 75/60/60*
• Backpack = 22/16/16*

*Note all numbers in red are estimates (based upon up scaling of lower level jewelley) as no exotic jewellery has been seen yet

As you can see, the sum total of the weapon plus equipment slots make one amulet.

That is if you add all 6 equipment slots (head, shoulder, chest, glove, leg, boot), 5 trinket slots (Amulet, 2x Rings, 2x Earrings) and the main weapon (either two 1 handed weapons OR one 2 handed weapon) you get roughly 798/ 569/569.

So you may have to rethink that 'precision' sword as it will eat into your stat allocation elsewhere
 

Obtaining Gear
Can I get all gear rarities from level 1?
No, see the following:

• Common = Level 1-80
• Fine = Level 1-80
• Masterwork = Level 10-80
• Rare = Level 35-80
• Exotic = Level 60-80
• Legendary = Level 80

Basically, exotic (max stat gear) starts at level 60.


Where do I get the gear from?

• Common = Mob Drops, Chest Rewards, Merchants
• Fine = Mob Drops, Chest Rewards, Karma Merchants, Crafting, Mystic Forge
• Masterwork = Mob Drops, Chest Rewards, Karma Merchants, Crafting, Mystic Forge
• Rare = Mob Drops, Chest Rewards, Karma Merchants, Cultural Vendor Merchants, Crafting, Mystic Forge, Dungeon Token Rewards
• Exotic = Mystic Forge, Dungeon Token Rewards, WvW Merchants, Crafting
• Legendary = Mystic Forge

You can obtain the level 60 exotic gear with either dungeon tokens (to get the Ascalonian set), crafting (level 80 sets only) or for badges of honour in WvW (for the Invader's set).

 

• 2-Hander = 390 tokens
• 1-Hander (main hand) = 300 tokens
• 1-Hander (off hand) = 210 tokens
• Head = 270 tokens
• Shoulder = 240 tokens
• Chest = 390 tokens
• Glove = 270 tokens
• Leg = 360 tokens
• Feet = 270 tokens
• Total (6-Piece (Full) Set) = 1800 tokens
• Total (2-H + Full Set) = 2190 tokens
• Total (Main + Off Hand + Full Set) = 2310 tokens

• Ascalonian (L60): Power (main) / Toughness / Vitality
• Noble (L70): Precision (main) / Power / Condition Damage
• Nightmare: Condition Damage (main) / Precision / Toughness
• Sorrow's Furnace: Condition Damage (main) / Power/ Vitality
• Flame Legion: Power (main) / Precision / Crit Damage

• Head = 260 Badges of Honour
• Shoulder = 229 Badges of Honour
• Chest = 312 Badges of Honour
• Glove = 188 Badges of Honour
• Leg = 292 Badges of Honour
• Feet = 208 Badges of Honour
• Total (6-Piece (Full) Set) = 1489 Badges of Honour

At least inclue the disclaimer that the writer of the article put at the top, that this information is NOT FINAL and only what is CONFIRMED. For example, level 80 vendors are not confirmed due to the inability to access high level zones.

Additionally, the number of tokens for a dungeon run is being disputed, someone in the topic has a screenshot showing armor pieces (exotic) from the level 80 norn dungeon costing only 100 tokens. In this case a full set would take only around 13(?) runs, since the headepiece is a reward from story mode.

This does show that crafted exotics are fairly simple to obtain, but this kind of topic is too premature for my liking.