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I tend to please Clavicus Vile and give him Umbra, and then give that blasted Masque of Clavicus Vile to Martin. The masque is utterly useless.

This.

While a few of the Shrine artifacts are somewhat unimpressive for what they are, the useless Masque seems intentionally made to be given away to Martin. For the collector-type gamer, the Masque is the easiest artifact to part with.

I tend to give the Ring of Namira up. Ring of the Iron Fist has better Reflect Damage, and Mundane ring has better Reflect Spell, not to mention the Resist Magic.

Mace of Molag Bal is pretty useless, but it looks rather cool. If you're going for being practical instead of awesome or fun, then give that up. Sanguine Rose is also pretty useless, because it just summons a random Daedra who will turn on you if there's nobody left. Masque of Clavicus Vile fails when put to the test against spells. However, for your character, I would also include Saviour's Hide and Volundrung, because you have Blade and Heavy Armour compared to Blunt and Light Armour.

Course to get the masque you have to surrender umbra. Even though it may not be the finest weapon in the game I always found it worthy enough to display in skingrad houses display cases.