Yikes. I didn't think it was possible for Xur to feel more underwhelming, but here we are, in week two of Shadowkeep, and snake boi face is delivering zero whelm. I guess we gotta get to it though. You'll find him in the Hangar area of the Tower. Head left and down the stairs from spawn. Hang another left in the hangar and he's up the little set of stairs past where the Dead Orbit edgelords used to hang out.
Reminder: if you are new to Destiny 2, do please dip into our beginner's guide to help get started.
Xur sells a specific armor piece for each class, at 23 Legendary Shards, and an exotic weapon for 29 Legendary shards. Now that the Armor 2.0 system has launched, the gear doesn't come with random rolls, so if you already own a piece, there's no need to buy another as it appears that the version he sells is the same that comes from the collection tab, and these have terrible stat rolls.
You can however try your luck at buying an Isochronal (also called Fated) Engram for a whopping 97 legendary shards. This will give you a random from exotic (but only from year one or two) that the currently equipped character doesn't own. Crucially, these aren't the collection versions and do have a chance of rolling high stats, making the gamble worthwhile. Bear in mind though that you could get a weapon also, which don't have random stats, so unless it's something you needed you'll have wasted your shards. Caveat emptor.
Xur is open for business from 9:00 am PST / 1:00 pm EST / 4:00 pm GMT, and leaves when the game resets on Tuesday. Here's what he's got for sale.
The Jade Rabbit (scout rifle) — don't buy
It's a scout rifle, which is a precision weapon, that does bonus damage when you land a precision shot after a body shot. So essentially you're rewarded for poor accuracy and incentivised not to hit crits. Chaining shots in that manner also returns ammo to the magazine, which creates a play style that's as weird as it sounds. This is a high impact scout so it's slow-firing but has high range and damage. Mostly used as a Crucible (ie PvP) weapon, The Jade Rabbit is effective when used by Laning Larrys or on the game's few wide open maps. In PvE there are countless better uses of your exotic slot, and honestly I wouldn't bother picking this up for anything other than the sake of completionism.
The Stag (Warlock helmet) — don't buy
It's a goddamn tragedy that this gorgeously goth skull hat has such a disappointing set of perks. (Spotting a theme this week?) The Stag generates additional rift energy when you're critically injured, and leaves a healing rift on your corpse when you die. I'm never fond of dying or almost dying to unlock the benefits of your gear, and though The Stag has seen use in PvP elimination modes (which are back on the menu in Crucible Labs now) I would again advise looking elsewhere for your exotic. Stuff like Transversive Steps and Ophidian Aspect provides much higher neutral game utility in PvP, whilst in PvE Warlocks have a smorgasbord of OP armor to pick from. I'm currently loving Nezarec's Sin with the void grenade mods from the seasonal artifact.
Ashen Wake (Titan gauntlets) — don't buy
Titans get another PVP-centric exotic, though honestly I don't think Ashen Wake are really anything-centric. They're just bad. The unique perk here sees your fusion grenades fly slightly faster and explode on impact rather than sticking to the target and, uh, that's it. Titan mains looking for juicy gloves have Synthoceps, Doomfang Pauldrons and Ursa Furiosa to play with. All of which are miles better than Ashen Wake.
Mechaneer's Tricksleeves (Hunter gauntlets) — don't buy
Rounding out a truly terrible week, Xur has these mittens for Hunters that improve side-arm reload and ready speed. They also generate additional damage from your side-arm when you swap to it when critically wounded. Which has to be the single most annoying to activate exotic perk in the game so far. The real problem is that nobody is using side-arms in PvE whatsover, and even in PvP you don't see them much these days because special weapons are a thing. Avoid as you would a pair of gloves made of angry bees. (Wait, why isn't that an exotic?)