So I'm looking for a mod that will allow weapons (and armors) to degrade over time. I know there's a few floating around out there but I was wanting to here the suggestions and opinion's of the modding community.

Just wait a bit, don't get any already out, imo. The latest SKSE update will facilitate a lot making such mod and for sure more then one will pop up soon. I myself think of making one if I what will be around won't be on my taste.