One "generic" setup is a 7 medium open world stamblade with 2 selene/trollking/veli/bloodspawn, 5 bone-pirate (armor), 3 agility on jewelry, asylum 2h sword (nirn if your planning to run cost / dot poisons, infused if youre planning to run disease enchant for more defile uptime) , master bow (infused berserk glyph 450 (550ish after major brutality) unbuffed weapon damage for 5 seconds)

Another setup (current patch) (nonproc, raw stats) ive used was 5 bone-pirate (2 armor + 3 jewelry), 5 shackle, asylum 2h, master bow

But ive also seen alot of interresting heavy armor stamblade setups (mostly in dueling environment), i assume they can work but i feel like medium armor especially for open world is essencial for the mobility aspect of nightblades' playstyle + you have a burst heal with rally instead of going heavy armor route and forward momentum.

For next patch i can see myself running 5 Bone-Pirate, 5 Shackle, and a monster set of choice since 2h and bow count as 2 item set pieces.

And for optimal race it really depends if youre planning to run a heavy or medium setup, for heavy id run a redguard or orc, and for med armor id run a woodelf for the juicy 21% stam regen.